Expert: Paul Henneman - 4/23/2006

Question
Hi I live in the UK and we have got some money we wish to invest for our son. We want it to be invested for 17-18 years, and after this time, it must only be allowed access with both parent's and our son's signatures together. (so he can't spend it all on drinking!) Is ther such an account? Every account we have come across so far says that when he turns 18 he can just take it out without our authority. Can you please help? Thanks, Sally

Answer
Sally,
   Thank you for your question! Unfortuantely I do not know a great deal about trust funds, and am not certain about how much information I can offer. My initial suggestion would be that to do this is possible, but would need a very specialized trust/estate lawyer to set up. I agree that a normal trust would probably not do it.  So it depends upon how much you plan to put into the trust. Such a specialized laweyer will be expensive. But if this is of interest, I do know of such a lawyer in Atlanta, GA. Is is top in the country for this sort of thing, and has done truly groundbreaking work in the creation of trusts over the past few years. If interested, please follow up with me and I will pass along his name. I do know that setting up such a specialized trust would cost thousands, but I am fairly certain that something can be done with the right structure.

Best Regards,
Paul Henneman
President
ValuEngine, Inc.
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