Kind of annoying caller kept saying ‘yeah.’ like she knew it all along. She had to ask dave but never thought to seek legal advise. I hope she used the money wisely if she ever got hold of it
Caller sounds extremely naive (if she wasn't playing it but I don't think so). Her mom knows exactly why she's making it difficult for her to get her hands on the money. The boyfriend can't wait to spend it all. Emergency fund, please. You can't wait to withdraw a bunch of cash in order to park it somewhere else? Puh-lease
If I had to guess she is probably in a situation that I’ve experienced…they try to not even let you see it because of greed. If you try to use legal action you no longer have a mom😩
I don't know that but it definitely felt like this call needed to be longer discussing the caller's financial situation because whether she gets a winfall of $30k determines whether she has an emergency fund and starts following the Baby Steps???? I would have some questions there whether or not she is legally entitled to the $30k.
But maybe her mom is trying to protect her from making rash financial decisions. A lot of people blow through theirs because they don’t have a clear plan
Indeed, I’ve heard horror stories about that. A friend of mine inherited $500k at 25, and it was gone in five years. They spent it on cars, vacations, and risky stock trades. I don’t want that to be me, but I also don’t want it to just sit there doing nothing while inflation eats away at it
Exactly! The key is striking a balance. A lot of people make the mistake of thinking they can ‘wing it,’ but without professional advice, they end up losing out. You might want to consider working with someone like Joseph Nick Cahill. He’s a CFA with years of experience helping people grow their portfolios. He offers free consultations too, so you can get advice tailored to your situation
That sounds like a good idea. I’ve been trying to figure things out on my own, but it’s overwhelming. I don’t even know where to start-stocks, ETFs, or real estate? And what if the market crashes again? I don’t want to take huge risks
That’s where someone like Joseph Nick Cahill can really make a difference. He helps clients balance their risk tolerance with their long-term goals, avoiding the mistakes most people make-like chasing trends, going all-in on one investment, or ignoring diversification
There’s another side to the story, it’s unfortunate we’re only listening to this one side - the way this young lady stated her situation, I’d be hesitant about releasing the funds to her as well, especially when the boyfriend is in the equation.
@@spankynater4242 you don’t know if there are conditions with it for when she turned 21. Trusts are sometimes lengthy and complicated - there can be conditions written within them for each beneficiary and if the Mom is the Trustor, she can could have changed the conditions. Again, there’s only one side to this story that we’ve heard.
@@pixfan2008 I said if her Mom was the Trustor - she can change it whenever she wants, especially if it’s a a living/revocable trust. Again, we don’t know the extent of the trust situation, only what the daughter has said.
@@TableForOne2025 yeah I don't feel good about her either playing or being dumb and the boyfriend pushing her to withdraw the money "for the emergency fund" - a 100% she's NOT going to park the money in an emergency fund
She probably advertised loudly through out her teen/adult life…boyfriend likes free a** and the$$$ potential…in 5 years she will be calling back broke and with a sob story
"We are trying to start an emergency fund". GIRL, if your boyfriend needs you to start an emergency fund then this is telling you how he would be as a husband right now in his life. Your mom is trying to help you by keeping the b/f from squandering your money. LISTEN TO YOUR MOM!!!
I agree. I feel like she’s some chunky girl and her boyfriend is an attractive but lazy bum, and I feel like she has low self-esteem and would give away all of her family’s money to a dead beat boyfriend just because he’s hot and tall
If the terms of the trust say she gets the money when she turns 21, no questions asked, we don't need to start asking Mom questions. Now, are those actually the terms? That's a different question.
I'm glad I'm not the only one who caught that. You could tell by the way she answered the question she doesn't actually know the terms of the trust. I think there are terms that give Mom the ability to prevent her from getting the money and her and her boyfriend are on a mission to get it
“That’s what “We” were trying to find out.” Her boyfriend should have nothing to do w this transaction. I can only assume that is what the mom is mostly worried about. They need to make their own “separate” emergency funds. Why are people so eager to disclose to their partners, who aren’t married to each other, how much money they have? Keep that information to yourself. You have to pretend you are broke. Let that money thrive wo the influence of other people’s opinions. I am kinda siding w Mom
Maybe when you’re in the early stages of dating but it’s super important to know finances ahead of marriage. You can act broke but you might wind up with someone who is not only broke but in a ton of debt and if that’s not something you’re on board with that’s a problem. I do think the mom is likely worried about the influence of this BF she doesn’t sound super mature on the call
@@genxx2724 Here's the sad part: a trust fund is the ULTIMATE EMERGENCY FUND! But caller doesn't understand that. As long as it stays within the Trust Fund, no lawsuit can touch it. If she gets it and puts in bank account, it can potentially be seized for various reasons. If she puts boyfriend's name on the account, he can legally clean out the account, and caller will not have any recourse. If caller is able to get the funds, she will need to file a tax return and pay taxes immediately, so she will not get the entire $30K like she thinks.
My dad set up a trust fund for me when I was in middle school. It’s a retirement one. I’m 24 currently. I’ll be 60 when I can have access to it. It’ll be over 1 million dollars in it by that time. I’ll never have to worry about retirement. Don’t give it to the kid.
This woman needs to learn to stand up for herself. She seems to be easily manipulated by people who want to take advantage of her--both the mother and boyfriend.
Just from listening to her, If I were her mom I won't release it to her. Why is her bf involved in this discussion?! We either need to call the mom or the mom needs to call the show🤣🤣🤣 They've made out everyones business now
The boyfriend is involved because the gf is a woman and can't figure out how calling a lawyer works so she's laying all this drama on the main man in her life.
probably released at 25 not 21...like a great deal of trusts say to get past the major stupid period of adulthood. She's trying to finance boyfriend who is pushing for the cash.
Caller sounds young and clueless. She has a degree but has no understanding of what the terms of the trust are. Plus she wants to get an emergency fund from the trust? So she doesn't have a job. Sounds like mom could actually be right. This kid is gonna blow the money
You are making a lot of assumptions about no job. And how is she supposed to know the terms of the trust when it was created when she was a minor? The mom is in the wrong here if it was set up to originally pay for school but caller said she paid for her own school. I bet the trust has been cleaned out and there’s nothing to give.
@@ceciliapetrowsky2572 So if someone's mom cleaned a trust out that is supposed to be for their child, can't they get in big legal trouble for doing that? I mean, it's theft I would think, unless maybe the trust stated that the mother could use the funds? I don't know, but just wondering.
Why didn’t he address the boyfriend thing first? I really don’t understand why women act like they’re married when they’re dating. I’ve always had a natural adverse reaction to men who aren’t providers or men who were expecting me to act as if we’re married. Meanwhile, we’re dating….
Victoria Don't Let YOUR Boyfriend in your finances, sounds like he is a cheerleader for that money. And you don't need 30k for your emergency fund listen to your Momma
Yes. I’m surprised that Dave did not address that part of this situation. I feel like he kind of whiffed on this one. It’s obvious that Victoria does not really know what the trust says. She just heard the part where she supposedly has accessible money and wants it now.
She sounds very immature. Her mother is trying to protect her. The daughter is going to blow the money on her boyfriend. He's just there for the money. There is no "we" he isn't her husband
I got that impression too. Why do you need the trust money to build "our emergency fund"? WE are not married. Also she should be working so she can build an emergency fund with her salary that way the trust can be invested or saved for retirement or used towards purchasing a property.
I think it's in a bank account with the mom as the trustee. She needs to go to that back and have them change the title of the account from a trust account to her name.
It all depends on the terms of the trust. A $30k trust is usually simple, the trustee can spend the funds on a limited set of circumstances (college tuition, down payment on a house, etc) and then the proceeds are turned over to the beneficiary at a specified event (such as attaining a certain age, getting married, graduating college, etc.). Dave is correct, getting a copy of the Trust is the first step. Shouldn't be difficult to figure out if she is entitled to the money at age 21.
It's not unusual to make the age more than 21 to receive money from a trust. Mostly to try to stop idiots from giving their money to boyfriends and girlfriends.
If my son dies before I do and then I kick the bucket, the grandkids can't touch a cent until their 28th birthday, more than enough time for the brain fairy to visit and the starter marriages to have already failed and gone away.
It is college and many countries do not have free university for everyone. She went to community college. That right there says she would have been sent to vocational training anywhere else. It’s a licensed vocational nurse here. Two year program LVN.
I agree. she's 21 and has a degree. what degree is that? I am assuming she got an associate degree. She should continue going to school and use whats in the trust for school to get her bachelors, masters, phd or MD program. By the sound of her voice on the phone she is done with school, unmarried, and she's immature and she is going to blow the money with her boyfriend.
My grandmother died when I was a senior in HS. She left all five of her kids 500k each. More than enough to pay off college for grandkids and lots left over. My mom donated all of it to our church. My aunt blew hers. Even in their 40s they made bad decisions.
It's her mom's money not hers, Dave should know this. I don't think it is not a trust but an education fund for her. Just like in Canada, RESP is in my name, not my kids name. My kids are not entitled to it, if my kid sued me I would shutdown the account and put it in my RRSP, period. Entitled children. Also Dave should know the b/f is trying to get his hands on her money. She is not telling Dave the full story, she is likely lying.
It might not be. I had a college trust fund; and the company holding the trust had to ‘force’ the trustee to sign it over to me as I was more past the legal age requirement; but i wasn’t asking questions as I knew the remaining amount could be spent too quickly. She hadn’t been purposefully holding it from, and had in fact called me laughing, and letting me know to look for paperwork. Signing it over is more of polite gesture and makes things faster.
As this woman’s boyfriend I can confirm we did get the money and we are paying off our debts using the method! I have $29,000 in a truck payment and she only has $1000 left on her student loans. So we are going to knock out my truck payment first then we will be debt free! I’m gonna marry her in like 50 years
Um, NO!!! If she has only $1000, That gets paid off FIRST, and if HER trust fund money is involved, it is all HER choice and you don't get a cent because YOU ARE NOT MARRIED. And if you have had access to ANY of HER TRUST MONEY, YOU NEED TO PAY IT ALL BACK. She is NOT your cash cow. If you are a decent man, you will be making sure that she is securing that money in an interest bearing account and adding to it, at the very least. Do the right thing, by her and yourself.
If she’s accurate, mom is required to file tax paperwork on this every year. I can’t understand why she wouldn’t want to get rid of that requirement the first second she’s able to
BTW Ramsey Team, successor trustee (her mom) remains in control of disbursement until the trust is closed out or trustee is replaced. I am one, so I have firsthand knowledge. Trustees MUST follow the terms of the trust. A final trust tax return has to be filled so that expense, if paying a tax preparer, comes out of trust proceeds. Also an annual return should have been filed all along.
This is the comment I was looking for. If her mother created the trust, she's still in control of it. I'm familiar with parents setting parameters for a trust upon their death and who the next trustee would be and how to manage the assets.
Never ever count on an inheritance. My grandmother was loaded rich and donated all of her money. Leaving my father with $1,700. Essentially three pieces of drywall. This is a common narcissist trait to donate their money or withhold it, as a part of control. Do your best work hard and never depend on someone coming to your finical rescue.
This is really important advice you never know what could happen, inheritance wise. It's best to plan for the future assuming there is no such thing as inheritance and then that way if you do get inheritance of some kind it's just a fast track to your plans or for your future.
I’d say that donating it would be better than giving it to your father. Those charities probably needed the money more than himd, so how is that narcissistic?
@@ZigZagPower you have no idea the situation. My father was a career professional and not expecting anything. It was just shocking that everything was donated. Very hurtful to the family and siblings of my father. A massive slap in the face. You have absolutely no idea in the situation. All I was saying is never assume an inheritance.
If the trust says that the caller gets the money at 21, then it’s her money to waste or not. But yeah, it sounds like the boyfriend is chomping at the bit for some of “their” money that they shouldn’t be sharing unless they’re married.
Who said it came from her mom? Someone left her money with Mom in charge of it until she turned 21. Mom might even have used some of the money improperly.
@@anaa03899 It’s in a trust with Mom as trustee. It’s highly doubtful the mother set it up. Why would she obligate herself to give the caller $30K at age 21? A trust is like a will.
She said it was for school, but she paid $5k out of pocket for school. Maybe she has a degree in cosmetology and the trust states something different like she must have an associates and Bachelors degree for the money to go to college, then if she doesn't go to college she doesn't get it until 25 or whatever....without looking at the trust you are just guessing, and from the sound of it doesn't sound like she is really ready...that money will be spent by "me and my boyfriend" before the year is over...I'd put money on that.
I would have a conversation with my mom first. I would sit down with her and pull out a copy of the trust and read it word for word. If she doesn’t cooperate you have serious relationship issues with your mom. Part of being an adult is stepping on your own to feet and making mistakes. I would get a lawyer and sue mom if i had to.😊
How can these two not know that there is more to this story. If they were to read the conditions they would see why it's not turned over to her yet. The trust folks wouldn't say no just because the mother wants them to say no, so much more to the story.
And even that money didn't come from the trust. Sounds like a possibility that there is no money in the trust. Or momma doesn't want her impressionable daughter's boyfriend to get his dirty paws on it.
She didn’t say it was a bachelors degree though. It’s most likely an associates degree or some kind of vocational certificate. Which isn’t necessarily a bad idea for a lot of people, given how much university education is these days.
Great question. I'm betting he's living paycheck to paycheck (if he's working at all), living rent-free with the caller, owes money for furniture rental, a big car note for his flashy new car, and most likely back child support. He's got a whole list of "emergencies" to spend that money on.
30,000 is not that much…and could add to her educational needs so she can support herself. Is she wanting this money to set up her and her boyfriend up to live together ?
She can talk to the attorney and see if they can get the trust instrument which will disclose everything. After it has changed I'd keep it at the same fiduciary, put myself as trustee and put everything in it. Save the emergency fund from earnings. When you have kids add them as beneficiaries and the grandchildren as contingency beneficiaries.
My understanding has always been that the emergency fund should be kept separate from trusts or anything else like that. It's supposed to be money that ideally would be in some sort of savings that can be gotten to quickly in the "case of an emergency". So putting the emergency fund in a trust wouldn't follow that rule. I can agree with the rest of what you said only IF she wants to keep it at the same place that its already at now. She may want to change that too though and should be able to if she wants to.
She has no clue of the terms of the trust. The trust probably states she had to get a bachelor's degree that's why she couldn't use the money for school. Since she didn't the age she receives the money would be higher than 21. Poor child is clueless.
If there is an actual trust company involved and it's not just a bank account, they are likely acting as agent. Trust departments act as Trustee but they also act as agent for Trustee. In this case, the Trustee makes decisions but the agent holds the money and assets, keeps records, preps the documents that the trustee will use to file the Trust's taxes, among other things. I agree with Ken...you have to know the fine print of the trust. Also, some trusts have what is called a spend-thrift clause..that's something that could be an issue in this situation.
I had a trust fund and had to be 18 but by the time I turned 18 my parents spent everything. Now I am struggling financially mentally and heart broken 💔.
I’ll say this. If it is true that the money should be hers and not in the hands on the mother, she should do as Dave says and get a lawyer. Do I think she will probably blow it with her “boyfriend” ? Probably, but that’s her problem to deal with! Some of these parent have control issues and don’t know how to let go! I seen it with some of my friends growing up!
I know a brother and sister that had to come face to face with their mother who would not give them their money. This money was legally theirs to have but the mother refused to give it to them. This mother was a money hoarder and could care less about her children's financial well-being.
I will never setup a trust that just give s money at a certain age. The trust would come with trustee that would require the money to be spent on “good things”. Buying a house, qualified charities, etc.
Starts with her boyfriend lol. She clearly doesn't know the terms of the trust. Guarantee there are terms being violated which give them on the authority not to give her the money. But her and her boyfriend want to find a way to get it. Something about the way she was talking, I think Dave caught on to this too, tells me there's much more going on here and this girl may be behaving your responsibly
I agree that it’s legally hers. Personally I would just not do anything and pretend it’s not there. Money is not worth ruining my relationship and I hate people controlling me. My parents would try to help me out all the time but I found much more fulfillment in doing it myself. Especially since my parents are far from wealthy
@@jimroscovius if she didn’t have any more information to give, the advice should’ve been to inform herself before saying to lawyer up and threaten her own mother with lawyers. That’s how to mess up family relationships
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
If I had to guess the caller has absolutely no idea what the trust says in all the fine print and is just making assumptions.
My guess is she will blow through this money in 2.5 seconds. 😬
Totally agree. Wish we could hear mom's side, I wouldn't be surprised if she has a very good reason for holding the money
Kind of annoying caller kept saying ‘yeah.’ like she knew it all along. She had to ask dave but never thought to seek legal advise. I hope she used the money wisely if she ever got hold of it
Caller sounds extremely naive (if she wasn't playing it but I don't think so). Her mom knows exactly why she's making it difficult for her to get her hands on the money. The boyfriend can't wait to spend it all. Emergency fund, please. You can't wait to withdraw a bunch of cash in order to park it somewhere else? Puh-lease
If I had to guess she is probably in a situation that I’ve experienced…they try to not even let you see it because of greed. If you try to use legal action you no longer have a mom😩
This girl sounds like she's light on maturity.
She sounds like she's well north of 21
Her boyfriend is behind all this drama--GUARANTEED. He wants to get his hands on that money.
Truck or Harley.
Yep.
Definitely 100%. I'm on the mother's side and I don't even know her.
I don't know that but it definitely felt like this call needed to be longer discussing the caller's financial situation because whether she gets a winfall of $30k determines whether she has an emergency fund and starts following the Baby Steps???? I would have some questions there whether or not she is legally entitled to the $30k.
Though I could see the boyfriend pressuring or influencing or something more abusive that results in her being coerced into trying to get the money.
That boyfriend is going to be one happy dude when she gets the money! 🤣
I see truck or Harley fever going on.
Bad news.
It’s 30k, not 3M
@@montymython754 30k is PLENTY of money to blow
It's only 30k lmlol. They will blow that by the end of the year
Caller sounds clueless. She probably has no idea what the trust actually says and is going off what her mom told her.
Or what her boyfriend is telling her
You could be investing it, growing it, and securing your future. It’s so frustrating!
But maybe her mom is trying to protect her from making rash financial decisions. A lot of people blow through theirs because they don’t have a clear plan
Indeed, I’ve heard horror stories about that. A friend of mine inherited $500k at 25, and it was gone in five years. They spent it on cars, vacations, and risky stock trades. I don’t want that to be me, but I also don’t want it to just sit there doing nothing while inflation eats away at it
Exactly! The key is striking a balance. A lot of people make the mistake of thinking they can ‘wing it,’ but without professional advice, they end up losing out. You might want to consider working with someone like Joseph Nick Cahill. He’s a CFA with years of experience helping people grow their portfolios. He offers free consultations too, so you can get advice tailored to your situation
That sounds like a good idea. I’ve been trying to figure things out on my own, but it’s overwhelming. I don’t even know where to start-stocks, ETFs, or real estate? And what if the market crashes again? I don’t want to take huge risks
That’s where someone like Joseph Nick Cahill can really make a difference. He helps clients balance their risk tolerance with their long-term goals, avoiding the mistakes most people make-like chasing trends, going all-in on one investment, or ignoring diversification
There’s another side to the story, it’s unfortunate we’re only listening to this one side - the way this young lady stated her situation, I’d be hesitant about releasing the funds to her as well, especially when the boyfriend is in the equation.
But if it says it’s hers when she turns 21, there’s no debate.
@@spankynater4242 you don’t know if there are conditions with it for when she turned 21. Trusts are sometimes lengthy and complicated - there can be conditions written within them for each beneficiary and if the Mom is the Trustor, she can could have changed the conditions. Again, there’s only one side to this story that we’ve heard.
@@TableForOne2025 A trustee can not change the terms of the trust unless the trust specifically states that they can.
@@pixfan2008 I said if her Mom was the Trustor - she can change it whenever she wants, especially if it’s a a living/revocable trust.
Again, we don’t know the extent of the trust situation, only what the daughter has said.
@@TableForOne2025 yeah I don't feel good about her either playing or being dumb and the boyfriend pushing her to withdraw the money "for the emergency fund" - a 100% she's NOT going to park the money in an emergency fund
Boyfriend is wants his piece of the cake, she said “we want to start our emergency fund” I am surprised Dave didn’t slapped her hand about WE
Agree. That was my first thought
They're not we until married. They're just playing house
She probably advertised loudly through out her teen/adult life…boyfriend likes free a** and the$$$ potential…in 5 years she will be calling back broke and with a sob story
Well, you see... Listening is a skill, you should try it sometime. She said "MY emergency fund."
0:52
I figured it out at “ Me and my boyfriend”…….
IKR. That made my brain hurt. I knew she wasn’t very smart from that moment on.
"We are trying to start an emergency fund". GIRL, if your boyfriend needs you to start an emergency fund then this is telling you how he would be as a husband right now in his life. Your mom is trying to help you by keeping the b/f from squandering your money. LISTEN TO YOUR MOM!!!
Exactly, very obvious what is going on. Dave has a brain cloud sometimes smh
Those sound like the words of a wise and loving mother! I hope all is well with you and yours.
I’m glad she won’t.. she sounds super immature. Mom knows best.
Her mom knows her better than anyone.
@@johntiller605 Exactly.
No. Dave knows everything. Just ask him.
Maybe that is true. But if mom isn’t the one who set up trust, she can’t stop her from spending stupidly
WE NEED TO HEAR THE MUM'S SIDE OF THE STORY!! why in the world does this story start with, "Me and my boyfriend... "
I agree. I feel like she’s some chunky girl and her boyfriend is an attractive but lazy bum, and I feel like she has low self-esteem and would give away all of her family’s money to a dead beat boyfriend just because he’s hot and tall
If the terms of the trust say she gets the money when she turns 21, no questions asked, we don't need to start asking Mom questions.
Now, are those actually the terms? That's a different question.
Exactly
I'm glad I'm not the only one who caught that.
You could tell by the way she answered the question she doesn't actually know the terms of the trust. I think there are terms that give Mom the ability to prevent her from getting the money and her and her boyfriend are on a mission to get it
Boyfriend is saying tell your mom to give you the money so you can pay my bills.
“That’s what “We” were trying to find out.” Her boyfriend should have nothing to do w this transaction. I can only assume that is what the mom is mostly worried about. They need to make their own “separate” emergency funds. Why are people so eager to disclose to their partners, who aren’t married to each other, how much money they have? Keep that information to yourself. You have to pretend you are broke. Let that money thrive wo the influence of other people’s opinions. I am kinda siding w Mom
If they are looking at getting married it’s important to have a conversation about finances
lol yup!! that money will be gone in weeks.. and the boyfriend too 😂
Maybe when you’re in the early stages of dating but it’s super important to know finances ahead of marriage. You can act broke but you might wind up with someone who is not only broke but in a ton of debt and if that’s not something you’re on board with that’s a problem. I do think the mom is likely worried about the influence of this BF she doesn’t sound super mature on the call
Exactly!
They are roommates, and nothing more. There is no "we".
30K pfftt! It will be gone in a flash! Don’t let your BOYFRIEND know you have anything! A husband, different story!
The boyfriend already knows!!
A husband will clean you out and leave in a hot second.
Her boyfriend is chomping at the bit to get that money for a new truck....momma is smarter than her.
bingo
No, Mama's spent the trust long time ago, otherwise she'd have paid for her education. After all, what that's what the fund was for.
Still her Money
That money is already gone
Probably
Yep, Dave you blew it on this one !
The red flag was in her first few words, “my boyfriend”. Sounds like he wants an emergency fund and does t want to contribute.
I doubt that they will really use it as an emergency fund. It will be spent in a matter of weeks.
Ohh god….it starts with…”me and my boyfriend”…..
That was a red flag to me too. She’s going to misuse that money lol
@@dialac1 Caller may have the best of intentions, but I see those funds becoming commingled.
@@jeromehenry4484 Right, because they’re grown-ups and “trust each other,” so they can have a joint bank account. Funded with HER money. 😂
@@genxx2724 Here's the sad part: a trust fund is the ULTIMATE EMERGENCY FUND! But caller doesn't understand that. As long as it stays within the Trust Fund, no lawsuit can touch it. If she gets it and puts in bank account, it can potentially be seized for various reasons. If she puts boyfriend's name on the account, he can legally clean out the account, and caller will not have any recourse. If caller is able to get the funds, she will need to file a tax return and pay taxes immediately, so she will not get the entire $30K like she thinks.
I can almost guarantee there are stipulations to the trust that allow mom to withhold the money.
She has no idea what the Trust says.
My dad set up a trust fund for me when I was in middle school. It’s a retirement one. I’m 24 currently. I’ll be 60 when I can have access to it. It’ll be over 1 million dollars in it by that time. I’ll never have to worry about retirement. Don’t give it to the kid.
I mean you kind of do you have to worry about retirement because you need 2.8 million to retire. So you still need another 1.8 million
@@ashlaraque4135 it will be much higher by then. I meant by how much it would have been in todays money.
I am not sure I like that set up, what happens if you don’t live to see 60? 😳 I prefer a trust pay for college & then the next pay out at 30. 🙌🏾
@@ashlaraque4135 Who's asshole did that number come out of?
Thats fantastic!!! You know you can invest in stocks NOW & it’ll go up. Thats what I did with mine, I have it invested & I’ve done really well
This woman needs to learn to stand up for herself. She seems to be easily manipulated by people who want to take advantage of her--both the mother and boyfriend.
Why is her boyfriend so concerned about her emergency savings? And her trust fund? If I was her mom I would withhold the money to.
For sure and I hope she does succeed
Just from listening to her, If I were her mom I won't release it to her. Why is her bf involved in this discussion?!
We either need to call the mom or the mom needs to call the show🤣🤣🤣 They've made out everyones business now
👀🤧
My Mom would make me sue her. 🤣
But I wouldn't.
The boyfriend is involved because the gf is a woman and can't figure out how calling a lawyer works so she's laying all this drama on the main man in her life.
probably released at 25 not 21...like a great deal of trusts say to get past the major stupid period of adulthood. She's trying to finance boyfriend who is pushing for the cash.
If I set up a trust, they could use money for education or they couldn't have the money until age 30 to 35 depending on their maturity level.
Oh I hope you're right and the boyfriend can't get his hands on it until the caller's frontal lobe is fully developed----which would be around age 25.
Yup
Caller sounds young and clueless. She has a degree but has no understanding of what the terms of the trust are. Plus she wants to get an emergency fund from the trust? So she doesn't have a job. Sounds like mom could actually be right. This kid is gonna blow the money
If the terms of the trust are met, it is her money to blow.
You are making a lot of assumptions about no job. And how is she supposed to know the terms of the trust when it was created when she was a minor? The mom is in the wrong here if it was set up to originally pay for school but caller said she paid for her own school. I bet the trust has been cleaned out and there’s nothing to give.
@@ceciliapetrowsky2572 true, that did cross my mind also. Could be one of those moms
@@ceciliapetrowsky2572 So if someone's mom cleaned a trust out that is supposed to be for their child, can't they get in big legal trouble for doing that? I mean, it's theft I would think, unless maybe the trust stated that the mother could use the funds? I don't know, but just wondering.
The bf wants the money
my boyfriend and i " lol yes it will be gone in a blink of and eye 👁
Why didn’t he address the boyfriend thing first? I really don’t understand why women act like they’re married when they’re dating. I’ve always had a natural adverse reaction to men who aren’t providers or men who were expecting me to act as if we’re married. Meanwhile, we’re dating….
Victoria Don't Let YOUR Boyfriend in your finances, sounds like he is a cheerleader for that money. And you don't need 30k for your emergency fund listen to your Momma
Yes. I’m surprised that Dave did not address that part of this situation. I feel like he kind of whiffed on this one. It’s obvious that Victoria does not really know what the trust says. She just heard the part where she supposedly has accessible money and wants it now.
“My boyfriend wants to start his emergency fund…” is what she meant to say
She sounds very immature. Her mother is trying to protect her. The daughter is going to blow the money on her boyfriend. He's just there for the money. There is no "we" he isn't her husband
You too sounds immature.
This right here!
doesn't matter even if she's a potato ,it is legally hers .
I got that impression too. Why do you need the trust money to build "our emergency fund"? WE are not married. Also she should be working so she can build an emergency fund with her salary that way the trust can be invested or saved for retirement or used towards purchasing a property.
@@rationalsamrat3247 yea and it's going to be gone before she's 25.
I think it's in a bank account with the mom as the trustee. She needs to go to that back and have them change the title of the account from a trust account to her name.
It will be blown. She and her boyfrien says it all. Not her Husband etc. She should be doing this on her own, bf should have nothing to do with it.
Yes, you will blow it I feel it in my bones. Be lucky you even have anything...my parents left us nothing. Why? They were AWFUL with money!
It all depends on the terms of the trust. A $30k trust is usually simple, the trustee can spend the funds on a limited set of circumstances (college tuition, down payment on a house, etc) and then the proceeds are turned over to the beneficiary at a specified event (such as attaining a certain age, getting married, graduating college, etc.).
Dave is correct, getting a copy of the Trust is the first step. Shouldn't be difficult to figure out if she is entitled to the money at age 21.
It's not unusual to make the age more than 21 to receive money from a trust. Mostly to try to stop idiots from giving their money to boyfriends and girlfriends.
Yep she should check if it’s 24 years old.
If my son dies before I do and then I kick the bucket, the grandkids can't touch a cent until their 28th birthday, more than enough time for the brain fairy to visit and the starter marriages to have already failed and gone away.
We set ours at 25 or BS/BA for this exact reason.
@@BusArch42we set ours at 25 and 35 for the remainder
@@ronica2623 yup
Call JG Wentworth and tell them it's my money and I want it now.
What's really weird is; I don't like commercials and I like opera even less, but those commercials are fantastic! 😀😀
877测得恶我的✋手呃
“She made me pay for my own schooling” lol America is a crazy place
and it was only 5k, sounds like a community college degree. Hopefully an LPN, or similar.
It is college and many countries do not have free university for everyone. She went to community college. That right there says she would have been sent to vocational training anywhere else. It’s a licensed vocational nurse here. Two year program LVN.
If you can't generate an emergency fund without accessing the trust, the emergency fund AND the trust are going to be gone within a year.
If true, she doesn't want her daughter to squander the money or give it to her boyfriend. 🤔
I agree. she's 21 and has a degree. what degree is that? I am assuming she got an associate degree. She should continue going to school and use whats in the trust for school to get her bachelors, masters, phd or MD program. By the sound of her voice on the phone she is done with school, unmarried, and she's immature and she is going to blow the money with her boyfriend.
@@pitbull7885 So she's immature because she's not married, or want to go back to school?
@@jimmymcgill6778 yes. 100% she’s immature. I can even tell from how she sounds
@@pitbull7885 I’m sure it’s massage therapy degree
That is exactly the point. She keeps talking about 'we' aka her and her bf.
I'm with mom. This girl sounds like a hot mess.
Ditto.
I agree, but it''s still her money. Mom doesn't (according to info given) have the option to keep it.
Lool facts
My grandmother died when I was a senior in HS. She left all five of her kids 500k each. More than enough to pay off college for grandkids and lots left over. My mom donated all of it to our church. My aunt blew hers. Even in their 40s they made bad decisions.
It's her mom's money not hers, Dave should know this. I don't think it is not a trust but an education fund for her. Just like in Canada, RESP is in my name, not my kids name. My kids are not entitled to it, if my kid sued me I would shutdown the account and put it in my RRSP, period. Entitled children. Also Dave should know the b/f is trying to get his hands on her money. She is not telling Dave the full story, she is likely lying.
There's more to this, that the caller knows and isn't sharing.
It might not be. I had a college trust fund; and the company holding the trust had to ‘force’ the trustee to sign it over to me as I was more past the legal age requirement; but i wasn’t asking questions as I knew the remaining amount could be spent too quickly.
She hadn’t been purposefully holding it from, and had in fact called me laughing, and letting me know to look for paperwork.
Signing it over is more of polite gesture and makes things faster.
Please make sure the attorney doesn’t take all the money !
She needs to go through the steps by herself! She and the boyfriend are not married. Plus, I don’t blame the mom. She sounds childish.
That’s because they don’t TRUST YOU duh ! 🙄
If the trust says she can have the money... she gets the money.
If the trust says she has to wait, then she can demand the money... but won't get it.
As this woman’s boyfriend I can confirm we did get the money and we are paying off our debts using the method! I have $29,000 in a truck payment and she only has $1000 left on her student loans. So we are going to knock out my truck payment first then we will be debt free! I’m gonna marry her in like 50 years
😂😂😂😂
😅
Um, NO!!! If she has only $1000, That gets paid off FIRST, and if HER trust fund money is involved, it is all HER choice and you don't get a cent because YOU ARE NOT MARRIED. And if you have had access to ANY of HER TRUST MONEY, YOU NEED TO PAY IT ALL BACK. She is NOT your cash cow. If you are a decent man, you will be making sure that she is securing that money in an interest bearing account and adding to it, at the very least. Do the right thing, by her and yourself.
I think he is joking.@@andreamaclachlan980
Yeah, we all know that’s what is going to really happen here.
If she’s accurate, mom is required to file tax paperwork on this every year. I can’t understand why she wouldn’t want to get rid of that requirement the first second she’s able to
You only have to file taxes on a trust if it generates income.
BTW Ramsey Team, successor trustee (her mom) remains in control of disbursement until the trust is closed out or trustee is replaced. I am one, so I have firsthand knowledge. Trustees MUST follow the terms of the trust. A final trust tax return has to be filled so that expense, if paying a tax preparer, comes out of trust proceeds. Also an annual return should have been filed all along.
Saddest part is this young lady doesn't understand that her Trust Fund is the ULTIMATE EMERGENCY FUND! and it is protected from lawsuits!
This is the comment I was looking for. If her mother created the trust, she's still in control of it. I'm familiar with parents setting parameters for a trust upon their death and who the next trustee would be and how to manage the assets.
An annual return is only filed if the trust generates income.
Never ever count on an inheritance. My grandmother was loaded rich and donated all of her money. Leaving my father with $1,700. Essentially three pieces of drywall. This is a common narcissist trait to donate their money or withhold it, as a part of control. Do your best work hard and never depend on someone coming to your finical rescue.
Or teach their kids to not rely on mom and dad for everything in their life & make their own path
This is really important advice you never know what could happen, inheritance wise.
It's best to plan for the future assuming there is no such thing as inheritance and then that way if you do get inheritance of some kind it's just a fast track to your plans or for your future.
I’d say that donating it would be better than giving it to your father. Those charities probably needed the money more than himd, so how is that narcissistic?
Your grandmother had the right to do whatever she wanted with her money. I’m not sure why you view that as narcissistic.
@@ZigZagPower you have no idea the situation. My father was a career professional and not expecting anything. It was just shocking that everything was donated. Very hurtful to the family and siblings of my father. A massive slap in the face. You have absolutely no idea in the situation. All I was saying is never assume an inheritance.
It sounds like she doesn’t know what the trust says. It may say she can’t get the money until she turns 25.
Why do I feel like she is shaking up with a guy, paying most of the bills, and will blow it. Why did Ramsey ignore the " me and my boyfriend garbage"?
If the trust says that the caller gets the money at 21, then it’s her money to waste or not.
But yeah, it sounds like the boyfriend is chomping at the bit for some of “their” money that they shouldn’t be sharing unless they’re married.
It depends on the location. For UTMAs and UGMAs, the legal age for which the trustee can access the funds varies by state.
Things are getting harder for everyone .
30k is good amount nice mom for the hard work.
Who said it came from her mom? Someone left her money with Mom in charge of it until she turned 21. Mom might even have used some of the money improperly.
@@genxx2724 OR all of it!! Sounds like Mom has some growing up to do!!
@@genxx2724 I took a guess 😉
@@anaa03899 It’s in a trust with Mom as trustee. It’s highly doubtful the mother set it up. Why would she obligate herself to give the caller $30K at age 21? A trust is like a will.
She said it was for school, but she paid $5k out of pocket for school. Maybe she has a degree in cosmetology and the trust states something different like she must have an associates and Bachelors degree for the money to go to college, then if she doesn't go to college she doesn't get it until 25 or whatever....without looking at the trust you are just guessing, and from the sound of it doesn't sound like she is really ready...that money will be spent by "me and my boyfriend" before the year is over...I'd put money on that.
This is the best hypothesis I read so far. Based on the caller's general tone and vocabulary, you're probably correct.
For most trust funds, the trustee does not get access to it until 25
Ours stipulated covering college at a university for a BA or BS. Nothing else
That Mom needs an award
I would have a conversation with my mom first. I would sit down with her and pull out a copy of the trust and read it word for word. If she doesn’t cooperate you have serious relationship issues with your mom. Part of being an adult is stepping on your own to feet and making mistakes. I would get a lawyer and sue mom if i had to.😊
How can these two not know that there is more to this story.
If they were to read the conditions they would see why it's not turned over to her yet.
The trust folks wouldn't say no just because the mother wants them to say no, so much more to the story.
Wait wait wait wait wait. Did she say that she only spent $5000 on college?
And even that money didn't come from the trust. Sounds like a possibility that there is no money in the trust. Or momma doesn't want her impressionable daughter's boyfriend to get his dirty paws on it.
State or community college
@@jameywallace5133 or cosmetology or medical billing…
I'm guessing it was a trade school.
She didn’t say it was a bachelors degree though. It’s most likely an associates degree or some kind of vocational certificate. Which isn’t necessarily a bad idea for a lot of people, given how much university education is these days.
The trust fund IS the emergency fund.
The boyfriend chomping at the bit waiting for some money.
Dave, or anyone can only give advice per what a caller says.
Me and my boyfriend figured it out. Mom thinks I'm gonna be stupid. There is a whole story here.
There's a lot more going on. Someone has not read the terms of the trust and needs get a copy and read it.
Her and her boyfriend acting like they married? What is the status of the boyfriend and his finances?
Great question. I'm betting he's living paycheck to paycheck (if he's working at all), living rent-free with the caller, owes money for furniture rental, a big car note for his flashy new car, and most likely back child support. He's got a whole list of "emergencies" to spend that money on.
30,000 is not that much…and could add to her educational needs so she can support herself. Is she wanting this money to set up her and her boyfriend up to live together ?
She can talk to the attorney and see if they can get the trust instrument which will disclose everything. After it has changed I'd keep it at the same fiduciary, put myself as trustee and put everything in it. Save the emergency fund from earnings. When you have kids add them as beneficiaries and the grandchildren as contingency beneficiaries.
It's only $30k, I wouldn't bother with all that. If it was over $100k+, then I would see your point for sure.
My understanding has always been that the emergency fund should be kept separate from trusts or anything else like that. It's supposed to be money that ideally would be in some sort of savings that can be gotten to quickly in the "case of an emergency". So putting the emergency fund in a trust wouldn't follow that rule. I can agree with the rest of what you said only IF she wants to keep it at the same place that its already at now. She may want to change that too though and should be able to if she wants to.
The crazy part about this is that trust fund would be the emergency fund. It’s untouched money. It’s there if she needs it.
She has no clue of the terms of the trust. The trust probably states she had to get a bachelor's degree that's why she couldn't use the money for school. Since she didn't the age she receives the money would be higher than 21. Poor child is clueless.
🚩🚩🚩🚩 any sentence starting with my boyfriend and I boyfriends never have voice in single life decisions
She hasn't read the terms of the trust.
Never count on an inheritance. Make your own money and own way. These situations are a sick dance. 30K is a drop in the bucket. Move along.
She said that she hasn't even read the whole trust. So maybe she needs to do that.
If there is an actual trust company involved and it's not just a bank account, they are likely acting as agent. Trust departments act as Trustee but they also act as agent for Trustee. In this case, the Trustee makes decisions but the agent holds the money and assets, keeps records, preps the documents that the trustee will use to file the Trust's taxes, among other things. I agree with Ken...you have to know the fine print of the trust. Also, some trusts have what is called a spend-thrift clause..that's something that could be an issue in this situation.
This girl is going to blow this money.
Yes and her Voice tells it all!!!
I bet the terms are not what she is saying.
I wondered if it is a special needs trust.
Good for mom, don’t let that slimey boyfriend get his hands on this trust money
Yes! You need to go hire an attorney! And you need to pay him more than the stupid $30K trust is worth to begin with.
I had a trust fund and had to be 18 but by the time I turned 18 my parents spent everything. Now I am struggling financially mentally and heart broken 💔.
lawyer will take a chunk of the money. Better to settle amicably
Oh my God I just hate it when this happens! So relatable!
I’ll say this. If it is true that the money should be hers and not in the hands on the mother, she should do as Dave says and get a lawyer. Do I think she will probably blow it with her “boyfriend” ? Probably, but that’s her problem to deal with! Some of these parent have control issues and don’t know how to let go! I seen it with some of my friends growing up!
I know a brother and sister that had to come face to face with their mother who would not give them their money. This money was legally theirs to have but the mother refused to give it to them. This mother was a money hoarder and could care less about her children's financial well-being.
I will never setup a trust that just give s money at a certain age. The trust would come with trustee that would require the money to be spent on “good things”. Buying a house, qualified charities, etc.
She sounds entitled.
The company holding the trust should have known that no signature was required.
Boyfriend is rubbing those hands together 👏🏻.
I’m guessing that this a “promise” trust that isn’t set up to go to her automatically.
Kid does not sound bright but it’s her money …
This is a trust issue!
Starts with her boyfriend lol. She clearly doesn't know the terms of the trust.
Guarantee there are terms being violated which give them on the authority not to give her the money. But her and her boyfriend want to find a way to get it.
Something about the way she was talking, I think Dave caught on to this too, tells me there's much more going on here and this girl may be behaving your responsibly
I agree that it’s legally hers. Personally I would just not do anything and pretend it’s not there. Money is not worth ruining my relationship and I hate people controlling me. My parents would try to help me out all the time but I found much more fulfillment in doing it myself. Especially since my parents are far from wealthy
My lawyers recommended that the terms of the trust specify waiting until the child turns 26. 21 is too young to be responsible in most cases.
So it's more of a distrust fund then
Hahaha
This is gonna turn into a I told ya so event for the mother after about a year of her daughter receiving this money.
Wise mom.
Is it worth having lifelong conflict with her mother. She needs to think about this.
I would not give her the money either, if I were her mom.
I think Dave didn’t do his due diligence here. There were 100% things that were left unsaid. I’m sure there’s terms that she isn’t meeting
Well, he did say it was based on what the young lady was saying.
What should he have done? Ask her to fax him the paperwork so he can review it, while we are on hold.
She probably doesn't know any more information to give. What's Dave supposed to do?
@@jimroscovius if she didn’t have any more information to give, the advice should’ve been to inform herself before saying to lawyer up and threaten her own mother with lawyers. That’s how to mess up family relationships
Hope mom didn't already spend it.
Extremely difficult in a trust account ... plus the bank would have told her there is no account or money.
She has no idea what it is or what it says. Get a lawyer to explain all her options.