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Thread: Precatory Trust
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03-16-2010, 03:04 AM #1Registered User
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Precatory Trust
Can anybody throw some light on Precatory Trust?
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03-16-2010, 05:25 AM #2Rude and Vile Master
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Basically it's a monetary gift where you tell someone that you would like it if they use the money a certain way, but don't actually hold them to it.
In a real trust, the gift is managed by a trustee who has a fiduciary responsibility to ensure the gift is used as intended and ONLY as intended.If you could kick in the pants the person responsible for your problems, you wouldn't be able to sit for a month.
Did you know that a 4 year student paying $20,000/year who finances their education graduates with over $103,000 in debt to start? But a student who works and pays cash and takes 6 years to graduate ends with $6,300 in their pocket! So much for "getting a head start by financing!"
Greebo(Nerd Spender): Loving and extremely patiently tolerated husband of ceashels.
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