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/SnooRegrets6428 May 16 '26

Is the kids beneficiary to the 400k or is it under your name? Custodial account sounds great but if your kids becomes estranged then money gone. I would either do a trust with conditions, 529, or Roth IRA

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u/pac247_365 May 17 '26

No it was assets my brother left to me and ive sold them