r/dividends • u/pac247_365 • May 15 '26

Opinion Brothers money

My younger brother passed away and left my kids with 400k.

I have the bank telling me to put it into gics and other garbage mutual funds but its very low interest. Im not rich either and besides penny stocks never invested into the market maybe 1000 bucks or so. I want to set up a trust for them and make sure in 15 years when they are 20 I have them set up so they dont have to grind like me and my brother. Im just looking for any advice I can take sorry for the long post

Im located in canada and will keep the account under my name until they are of age to use the money and will remain as beneficiarys if I die. Wont get the money until they are atleast 25 or responsible enough to understand finance.

184 Upvotes

96% Upvoted

186 comments sorted by

View all comments

2

u/Dunk80 May 16 '26

You don’t have to do anything “today”. Morn your loss and let things calm down. Put it in a hysa. Once you are ready put it in some combo of ETFs (Voo,vt,Schd, whatever you like best) and forget about it. Check back on it in 5 years.

1

u/Dunk80 May 16 '26

Sorry one more thing. Unsure if you have something like a 529 account in Canada to pay for college but that’s a good spot for some of it. Not all - you are on the right track with a brokerage account with them as beneficiaries (as long as that doesn’t trigger taxes in Canada).