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Klenk Law

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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Like another reviewer, I contacted Peter through his website using the free consultation link, for a question regarding PA inheritance taxes. The question was quite technical and difficult to explain, and the answer was nowhere to be found on the web. Peter grasped precisely what I was asking, and provided a clear, helpful response (with a touch of humor) the very next day.

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Mr. Klenk has been easy to work with. I am confident he has given me good advice whenever I have called upon him. He has shown good work ethic and depth of knowledge in preparation of estate, wills, and trusts that I have worked with him on.

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Answered my question quickly and referred me to a colleague that could handle my problem

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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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Always professional and very responsive. Everyone on the staff that I have worked with. I look forward to continuing our relationship.

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