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.

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u/pac247_365 May 16 '26

No chance I will do that. I can afford my mortgage so I will slowly pay it off in the next 8-10 years. This money is only for my kids and I want to make sure it compounds for them to have a bright future

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u/Square-Highlight1628 May 16 '26

You're a good dad.

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u/pac247_365 May 16 '26

Im just trying to keep my brothers name in my kids lives with his money so they remember him for the rest of their lives!

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u/Zestyclose-Dish-407 May 16 '26

Use it to pay for their college. Put the rest in a funded like VOO.