Online Trusts for the Middle Class

Several online companies, such as TrustEgg and Kiss Trust, arenow offering trusts intended for the general public.  Customers will have the option to amasssavings for their children without needing a ton of money to make minimuminvestments.

TrustEgg allows users to create an online trust account inminutes with no minimum investment. These trusts are structured as Uniform Transfers to Minors Act trusts,which gives the beneficiary ownership of the assets at age 18 or 21.  Kiss Trust takes a little longer to create,but allows its users more customization options.

Some financial advisors believe a 529 plan is the best optionfor those with little money trying to save for their children, but there arestill many creative ways to use these products.

See Kelley Holland, Want a Trust Fund, Baby?, CNBC, June 11,2013.