How do you set up a trust fund for an inheritance?

Tuition Assistance on top of Trust Fund set up specifically for education? Is it possible and why?

• For an elementary school that charges only about $5,000.00 per year, one would think that they are pretty discriminating when it comes to granting financial aid for tuition. The Aid application is somewhat lengthy. It does not provide a Trust Fund section, specifically, for the enrolling child as an area to fill in, nor does it ever indicate same as an immediately negating factor. However, one does have to provide the SS# of the child and all parents. My question is how would they find out about the Trust Fund if they never ask about it specifically? Also, would they really grant aid for someone who has one in place for the enrolling child? I can't imagine they would (not to mention why someone would truly need aid if they have one!) I never imagined that I'd have to compete for aid with people who have Trust Funds in place specifically for education!! Can someone please provide any experience or details. Much Appreciated!

• Answer:

  Well, for one thing, with a SS# and name and probably 20 dollars, you can find out the entire financial history and current status of a person. Trust funds are somewhat up in the air. Say a grandparent sets on up for the kid to get into college. If it is associated with the kid, then it will show up as part of the kids estate. There is usually a sentence or two where you sign that gives the company permission to look into everyone's finances as part of their credit check. I wouldn't be surprised if they know the credit score, too.