What is minimum amount to set up a trust for a child

Question

We want to set up a trust for our adult but slightly irresponsible daughter after we die. What is the minimum amount for such a trust to be handled by a financial institution?

Answer 1

As long as you are willing and able to pay reasonable fees for the creation and administration of the trust there should be no minimum.  In fact, as you are likely to learn quickly from a good trust company or department, there are good reasons that the trust not be funded until after your death.  One of the options you should include in your considerations is an unfunded revocable trust that becomes Irrevocable at your death and is funded essentially from your estate.

But I am getting way ahead of you.  You should sit down and talk with a trust administrator (or two) to discuss your concerns and resources.  Look for an administrator that comes highly recommended by people or organizations that you know and trust.  Expect the administrator to explain multiple options to you and why you might consider each.