What is a Child’s Trust?

In a child’s trust, you are eligible to leave behind specified property to one child. This property will be held distinctly from any property left for other children. You might choose with the help of your estate planning lawyer, for example, to create a child’s trust for each child if you have more than one.

The trust is your legal entity through which an adult, also known as the trustee, is responsible for handling property or money for someone else. In this case, the trustee is responsible for managing the property or money identified for a minor child.

In the event that you create a trust, the property manager is known as the successor trustee or the trustee. Your trust document should only be created with the help of an estate planning attorney because it serves the important role of sitting out the trustee’s responsibility and the rights of the beneficiary.