Claudette's grandchildren are 7 and 9 years old. When Claudette passed away, her grandchildren inherited her money. However, the will stipulated that they should not get control of the money until age 25. Which of the following should be set up to provide for the management and control of the funds?

Question

Quizplus · Accepted Answer

A trust would allow for a designated trustee to manage and control the funds until the grandchildren reach age 25, as specified in the will. This would ensure that the money is being used wisely and for the intended purposes. A checking account, savings account, certificate of deposit, or loan would not provide the necessary management and control specified in the will.

Claudette's Grandchildren Are 7 and 9 Years Old