Investments Under In-Trust For (ITF) Account

On my previous post, I have written about opening a mutual fund in-trust for (ITF) accounts for kiddos as Christmas present. As I browse my FB account this morning, I came across a financial group who previously discussed about ITF accounts. 

Opening question: Paano po mangyayari if namatay si parent tapos ka-OR sa account ang anak, would the funds also be included in the estate? Madali lang ba to transfer the account to the child if nag legal age na? 

A Different Kind of Gift For Your Child

Photo credit: pbs.org

We can now feel the cool breeze of Christmas. This also means cash blessings on the way. Almost all are very excited to receive (and some just did) their bonuses and 13th month pays. I just heard from the news this morning that half of the 13th month pay of government employees will be given this week. Yahoo!  But before you think of spending your bonuses right there and there for parties, gadgets, travels and appliances, why not "spend" them wisely for the betterment of your future. Specially for parents, this is the perfect time to give a different kind of gift to your kids. Way better than giving out toys, clothes or gadgets (Ipad, newest cellphone model...), why not give your kids something that will benefit them in the future. Let this be the start of their exciting financial journey.