Finance: What is a Clifford Trust?

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Transcript

00:22

everywhere No keyword minors with an O not an eat

00:27

kids Your kid was one of those TV sitcom child

00:33

stars you unlike most of their appears parents were actually

00:37

a good parent So you set up a special Clifford

00:41

trust for your kid putting in a million bucks a

00:43

year for three years fully invested in S and P

00:46

five hundred index funds which grows in compounds away such

00:49

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

00:52

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

00:55

out of rehab hopefully for the final time and is

00:57

ready to go to a school or no not U

01:00

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

01:03

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

01:06

bucks to do so courtesy of the Clifford Trust you

01:09

set up which has all kinds of special provisions that

01:11

protect miners make you do the right thing by him

01:14

and I not take all their money so that well

01:16

they could then blow all the money on bars and

01:19

restaurants that they start that go bankrupt and watch themselves

01:23

slowly go bust