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My daughter turned 1 a few weeks ago, there are a very short list of startups that I think might still exist looking a bit like they do today when she is an adu

My daughter turned 1 a few weeks ago, there are a very short list of startups that I think might still exist looking a bit like they do today when she is an adult... I cannot imagine making a 17 year bet on a startup. I like that you're all parents (+ an uncle, close enough) and actually adults rather than a crop of 20 year olds about to be acquihired, but what happens if you just stop for any reason?

jacquesm 14y ago
Good stuff here: http://www.investopedia.com/articles/pf/12/set-up-a-trust-fund.asp http://www.investopedia.com/articles/pf/12/set-up-a-trust-fu... And here: http://www.investopedia.com/articles/retirement/11/ensuring-your-trust-trustworthy.asp http://www.investopedia.com/articles/retirement/11/ensuring-... And yet more here: http://www.investopedia.com/articles/pf/07/trustee-responsibility.asp http://www.investopedia.com/articles/pf/07/trustee-responsib...
runamok 14y ago
From the website: https://www.trustegg.com/Trustegg_child_trust_fund_faqs https://www.trustegg.com/Trustegg_child_trust_fund_faqs What happens if TrustEgg goes out of business, is my child’s account safe? Definitely. If TrustEgg has to close its doors, or destroyed by an act of god, the underlying accounts would be transferred to another Trust Co, or the child’s parent/guardian would be named custodian. This would be done at the discretion of the State Division of Financial Institutions.
Bricejm 14y ago
Founder/CEO TrustEgg - The deposits are held at an established Trust Co. (Summit Trust Co. of Nevada)and if something were to happen to Summit or TrustEgg, the accounts would be transferred to another Trust Co. under the supervision of the State Department of Financial Institutions.
- joering2 14y ago
  If your startup is in California, where does Nevada comes from? You see -- those kind of red flags to me would be a huge no-no. Like those Cayman accounts and other accounting practices. Something is fishy here.
  - Bricejm 14y ago
    Founder/CEO - TrustEgg - Most financial institutions are based out of a few select states, Nevada being one. Similar to every company being formed in Delaware.
  - Evbn 14y ago
    Do you have any idea what you are talking about? Your savings account is held by a Delaware corporation. Oh no!
- deleted 14y ago
  [deleted]
Evbn 14y ago
If you write a will with a lawyer, it doesn't get cancelled when the lawyer dies.
deelowe 14y ago
The trust isn't going to disappear if the business goes away no more so than any other legal document. These guys appear to just be facilitators for setting up a trust.

jacquesm 14y ago

Good stuff here: http://www.investopedia.com/articles/pf/12/set-up-a-trust-fund.asp http://www.investopedia.com/articles/pf/12/set-up-a-trust-fu... And here: http://www.investopedia.com/articles/retirement/11/ensuring-your-trust-trustworthy.asp http://www.investopedia.com/articles/retirement/11/ensuring-... And yet more here: http://www.investopedia.com/articles/pf/07/trustee-responsibility.asp http://www.investopedia.com/articles/pf/07/trustee-responsib...

runamok 14y ago

From the website: https://www.trustegg.com/Trustegg_child_trust_fund_faqs https://www.trustegg.com/Trustegg_child_trust_fund_faqs What happens if TrustEgg goes out of business, is my child’s account safe? Definitely. If TrustEgg has to close its doors, or destroyed by an act of god, the underlying accounts would be transferred to another Trust Co, or the child’s parent/guardian would be named custodian. This would be done at the discretion of the State Division of Financial Institutions.

Bricejm 14y ago

Founder/CEO TrustEgg - The deposits are held at an established Trust Co. (Summit Trust Co. of Nevada)and if something were to happen to Summit or TrustEgg, the accounts would be transferred to another Trust Co. under the supervision of the State Department of Financial Institutions.

joering2 14y ago
If your startup is in California, where does Nevada comes from? You see -- those kind of red flags to me would be a huge no-no. Like those Cayman accounts and other accounting practices. Something is fishy here.
- Bricejm 14y ago
  Founder/CEO - TrustEgg - Most financial institutions are based out of a few select states, Nevada being one. Similar to every company being formed in Delaware.
- Evbn 14y ago
  Do you have any idea what you are talking about? Your savings account is held by a Delaware corporation. Oh no!
deleted 14y ago
[deleted]

Evbn 14y ago

If you write a will with a lawyer, it doesn't get cancelled when the lawyer dies.

deelowe 14y ago

The trust isn't going to disappear if the business goes away no more so than any other legal document. These guys appear to just be facilitators for setting up a trust.