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Education Trusts

What is an Education Trust?

An Education Trust is an Irrevocable Trust designed specifically to pay for education expenses. Though there are many variations, an Education Trust typically requires that trust assets be applied only towards a beneficiary’s tuition.

What is the Purpose of an Education Trust?

Because education costs place a significant burden on a family, providing a child with the means to avoid having to save college expenses is a welcome gift. The Grantor can feel better knowing that an inheritance is not used on a quickly forgotten vacation or car, but is instead used to provide an education for a grandchild or great-grandchild.

What are the Advantages of an Education Trust?

  • Knowing an inheritance is used for a useful purpose.
  • Releasing a child from the burden of saving for his children’s education.
  • Releasing a Grandchild or more remote descendant from the burden of college debt.
  • Sheltering assets from being used wastefully.
  • Knowing that for many years you are remembered fondly (and many a beer raised to toast your memory).

What are the Disadvantages of an Education Trust?

  • Trust funds are limited to only Education.
  • An effort is required to structure the trust, so the rules are followed, and funds are readily available for only the authorized education expenses.

Reasonable Prices | Years of Experience | We Make Trusts and Estate Planning Easier

Is an Education Trust right for you? If you have any questions about Education Trusts or any other estate planning topics, please contact our office to schedule a free consultation. For more than two decades Klenk Law has focused only on Estate Law. We’ve seen it all, and this experience allows us to explain complex estate planning techniques clearly and concisely. We make it easy for you to understand Education Trusts so you can make the best decisions for yourself and your family.

What Our clients are saying

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Michael Wolfgang

Peter and the whole team at Klenk Law are top notch. They are thorough, efficient and understanding of client needs. He was able to tailor our estate planning needs just how we envisioned.

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B.A.

Peter Klenk and his associates are responsive and professional - It is a pleasure to work with their team. If you have needs in estate planning or administration, they are the firm to go to in the Philadelphia area!

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Glenn P.

Peter Klenk ESQ is a thoughtful and capable attorney who we work with on estate planning issues. His firm recently provided us with new Wills, Power of Attorneys and our instructions regarding major health issues. These documents are important for estate and life planning. Peter and his team are masters in the complexities of Estate Law. We highly recommend Peter and his Associates to provide thoughtful advice and outstanding work on these complex issues of the law. Make sure your estate planning documents are up to date, and Peter can be relied on to do an excellent job. Well done Peter!

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Peter and his staff are very responsive and always willing to help my clients and in a cost efficient manner.

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