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I inadvertantly helped my kids go to college without going into debt.

When their father died, his inheritance from his grandmother was about $15,000 in 1979. I had to decide what to do with that money. A lawyer advised me to set it up in a trust for the kids (then ages 7, 6, & 4 years).

This is different than a conservatorship because it allowed me to keep investing it as I saw fit, which I did. By the time each child arrived at college age, the trust was worth about $14,000 each. However, that trust did not belong to them. It was its own entity, so they did not have to list it when they listed assets on a financial aid form.

Wow!

They each qualified for more in grants than they would have if that trust had belonged to them.

posted 4 years, 8 months ago
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