My daughter (7yrs old) will be receiving a settlement soon. I am not sure how much. I know it will be tens of thousands. Attorney's want to put it in an educational trust which she will be able to access at age 18. I am concerned that 18 is too early and not mature enough to make decisions. What is out there to keep it growing and safe from my child spending her nest egg and my spouse who enjoys having financial control. He is concerned with me where I am concerned with him. I am not listed on any of our own investments. I would like for at minimum of 2/3 of what my child receives to go into a roth ira. At the same time I don't want to leave her with nothing and struggling. I am concerned about her having too much and not working for or appreciating this precious big start. My husbands son from a previous marriage was awarded $47,000 for injuries suffered in an accident. He used the entire amount with nothing to show for including education which it was intended for. Help! Because my child is only 7. How will this play out? I don't want her monies to be controlled by an attorney or my husband.

Well, you are her mother is your husband her father? If not then you have legal say over her not him. If you want the trust to be held longer then tell the attorneys that (though depending on where the settlement is coming from they may not want to extend it any longer than the age of majority). You are right she is only seven so you have to be the one to voice your concerns.

In NY - at least - there have to be periodic accountings for monies held in trust. I don't understand how $47,000 was spent for purposes other than benefitting the child.

And, yes, talk to the Attorney.