If a minor is receiving a settlement, frequently a court will need to approve the settlement and will require any funds received to be placed in a restricted account. These options may include an account with the court, a structured settlement annuity or a trust. At NDC Advisors, we understand that having the flexibility to have funds available to promote the growth, health and education of a minor is important. That is why we created the Master Trust for Minors.
The Master Trust for Minors helps protect the settlement funds but allow for money to be available for all of the things a growing child needs. Permissible expenditures can include education assistance, clothing, sports, lessons, recreational items, summer camps, travel, medical needs, a vehicle, college education and more. The Master Trust for Minors can be used in place of a restricted Court account and can be used in conjunction with a structured settlement annuity. Setting up a minor settlement trust with our Master Trust for Minors is fast and easy and it is appropriate for recoveries of all sizes and is especially practical for recoveries of $300,000 or less.
The NDC Advisors Master Trust for Minors is appropriate for recoveries for minor beneficiaries who are not currently qualified or receiving needs based government benefits.
Each Court may have different rules and requirements regarding the ability to use a Master Trust for Minors. To see if the NDC Advisors Master Trust for Minors is appropriate in your case or to learn more information please contact us.
Call us now at (888) 676-2055 to schedule a consultation.