From Slate Magazine · Kristin Wong · · 1m 20s
Trust Fund Timing for Niece and Nephew
Aunt sets $2.5m trust funds for niece and nephew after years of saving.
In brief
Aunt sets $2.5m trust funds for niece and nephew after years of saving. Aunt plans to give $2.5 million trust funds to niece at 25 and nephew at 35 after years of saving. Originally reported by Slate Magazine.
Aunt's trust funds
Aunt has saved $2.5 million for niece Desiree and nephew Austin since they were born.
Niece in grad school
Niece Desiree is already in grad school while nephew Austin has dropped out of five colleges.
Nephew's habits
Nephew Austin lives at home, plays video games, and gets high regularly.
Trust fund timing
Aunt plans to give niece's trust fund at age 25 and nephew's at age 35.
Family reaction
Brother and his wife are angry about aunt's decision to delay nephew's payout.
Family accusation
Brother's wife accuses aunt of favoritism and demands immediate payout for nephew.
Aunt's defense
Aunt says niece has shown responsibility while nephew spends money quickly.
Suggested solution
Aunt could suggest financial literacy course for nephew before payout.
Boundary setting
Aunt should remind family this is a gift, not an obligation to them.
What happens next
Aunt may need to set firm boundaries to keep family from pressuring her.
The takeaway
Aunt plans to give $2.5 million trust funds to niece at 25 and nephew at 35 after years of saving.
