Tuesday, July 12, 2011

If a foster parent chose to put survivor benefits in a trust for the child...?

Money placed in a trust for a child in foster care may not be used by anyone without the authorization of the trustee in charge of managing the account. The point of the trust is to keep the funds in reserve until the child reaches an age specified in the trust, at which time he/she may receive distributions from it. None of their foster parents, now or in the future, can access the money.

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