For the next 21 years the money is also protected against any creditors who would like to deprive the kid of his rightful finances to be, which would also include Papa's creditors. A trust agreement in fact can make provisions for all kinds of eventualities. By having title to assets like stock or real property held by foreign corporations or trustees, these assets can be hidden and protected from creditors. Gaining such approval is an expensive bureaucratic procedure. It's much like winning an okay from the Food and Drug Administration for a life- saving new drug.
Most companies never bother.
As a result, most of the world's best performing mutual funds can't be legally sold in the USA or to US citizens. The way out of this dilemma is a comparatively simple one, which entails establishing an offshore trust to hold these forbidden investments. From this point of advantage you can often do considerably better than you can with the very limited, legally approved deals for US citizens. He enters your social security number, and is able to quickly identify your bank accounts, securities, and real estate. In fact it is virtually impossible to confiscate trust assets.