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Finance Allah shmoop What is a Clifford trust Well first

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what's a trust Well it's a special repository of money

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that exists is a kind of distinct legal entity until

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something happens So what's special about a Clifford trust Have

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anything to do with that big red dog who slumbers

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everywhere No keyword minors with an O not an eat

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kids Your kid was one of those TV sitcom child

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stars you unlike most of their appears parents were actually

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a good parent So you set up a special Clifford

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trust for your kid putting in a million bucks a

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year for three years fully invested in S and P

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five hundred index funds which grows in compounds away such

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that Well it's worth six million bucks by the time

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your kid turns eighteen At that point well she's fully

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out of rehab hopefully for the final time and is

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ready to go to a school or no not U

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C L A Here bartending school That's what child starts

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Teo But hey at least they're starting with six million

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bucks to do so courtesy of the Clifford Trust you

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set up which has all kinds of special provisions that

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protect miners make you do the right thing by him

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and I not take all their money so that well

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they could then blow all the money on bars and

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restaurants that they start that go bankrupt and watch themselves

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slowly go bust

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