How to Use Trust Funds to Cover Your Kids Education, Health Costs

How to Use Trust Funds to Cover Your Kids Education, Health Costs

When you set up a private trust fund for your children, you are effectively paying for their education, health costs years ahead before those needs will become an obligation begging for attention.

Simply put, it makes investment sense to buy financial products like a private trust for your children’s education, health and other future plans you might have in mind already.

With N100,000, you can provide future coverage for your children education from United Capital Asset Management, while you have the option to start United States dollar-denominated trust under its private heritage trust fund products.

Events, happenstance dropped on our laps all the time. Some are palatable while others may not be. It is unlikely to predict tomorrow with certainty but once this is certain, people can plan ahead.

How to Use Trust Funds to Cover Your Kids Education, Health Costs

When things are right with you, it is pretty better to plan for your children needs, especially their academic pursuits. The making of the masters is done by investing in education while other things could follow.

A number of investment products that are available are not well marketed in Nigerian. Few parents talk to financial advisors, wealth managers about the future of their kids here.

But many rich people do that all the time. To plan the future of your children, there are financial products that can be deployed for the purpose.

“I love my children”! It is not by mouth, please. Have you tried to take monkey kids before? You would understand it is not only you that love your children.

The only thing that separates us and animals is instinct, the ability to plan for tomorrow.

Private heritage trust for kids could be an answer to your yearning for a greater future for your children. Education is not getting cheaper in Nigeria, before your eyes, school fee is already running into millions.

What do you do?

United Capital wealth managers have a product that would support your various plans for that young prince and princess.

United Capital Private Heritage Trust account is set up by parents and/or guardians for their children and/or wards to ensure that the wishes of the parents for their children as regards tuition, welfare, health (medical and health insurance coverage) and leisure (travel) are realized.

Wealth Managers explained that Heritage Trust is distinct from other children’s products because it is specifically created for the benefit of your children/wards; and designed to assist in providing an enduring legacy and uninterrupted welfare for your minors.

The beauty of this is that it is created in both Naira and Dollar denominations to cater for any eventualities and provide an enduring arrangement for the education and welfare of named beneficiaries with an annual minimum subscription of N100,000 or $1,000.

Explaining further, United Capital said this product enables you to set aside a lump sum amount or make monthly/periodic contributions over time to provide for the education and welfare of your named beneficiaries.

Benefits Private Heritage Trust:

The trust hedges against the devaluation of the local currency as it is also dollar-denominated. The funds can be availed directly to 3rd parties for the purpose of school fees, travel, health, etc. in favour of the named beneficiary.

In addition to that, there are life insurance benefits attached and it is professionally managed to generate returns and reports on the Trust Fund will be rendered bi-annually.

It also protects and preserves the Trust assets for the future maintenance of the beneficiaries as United Capital noted that the settlor (individual or group setting up the Trust) may make annual gifts into the Trust while the child is a minor, allowing funds/assets to accumulate for the future benefit of the child.

Tomorrow still remains a shadow covered with uncertainties. In the event of eventualities –Parents disability or death – Heritage Trust will provide for the child.

It would also make provision for a named representative who can act on behalf of the settlor only in the instance of confirmed unavailability or disability of the settlor.

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How to Use Trust Funds to Cover Your Kids Education, Health Costs