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.
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.
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.