I don't want to discuss circumstances, and yes I will be trying to meet with a lawyer ASAP, but I wanted to get a sense of what options there are to transfer money in this regard? Just so I can start thinking about it given I don't have a lot of time left to act.
I have a 13 yr old little brother who I would want to have my money for college purposes only. I thought a 529 would be good but it looks like that's not the case b/c if you die you need to designate a successor and I would not want that to be my parents because they'll steal the money.
I also would want to try to minimize his tax burden / "apparent income" b/c my family is broke as shit and I want him to be able to afford college so I don't want this to be something that ruins his financial aid. I'm talking that I have about $7~10k right now (depending on how long I am around, it will be at the higher end), that I soon won't be needing anymore and I feel bad that I won't be around anymore to help him :(
tl;dr best options for leaving money for sibling to attend college?
Submitted November 24, 2017 at 01:48PM by i_am_dying_throwaway http://ift.tt/2Bju8OV
