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countrygirl111071 · Mar 16, 2007, 12:51 PM

Hello,
I'm a single mom who receives child's support. I have people in my life who have ability to assess my finances via my ss# here in Texas. Is there any place I could save this money,let it grow for future college and other things for kids . Without people being able to check for any accounts I might have under my name, and ss#. thank you very much.

bikerguy · Mar 16, 2007, 01:18 PM

I joined something called the tuition account program 20 years ago TAP I was able to save 5$ or what ever I could afford and I was actually buying college credits to be used now.. I could send them any$ I could afford for that week its amazing how it adds up.
Also the price I paid back then buys a lot more than today.. That's a PA program look around.

Fr_Chuck · Mar 16, 2007, 06:37 PM

First who is 'checking" and why. I know of ways to put money away, but if you are trying to cheat someone it would be illegal. It will help ifyou would tell us what this is about

countrygirl111071 · Mar 16, 2007, 08:08 PM

I've tried saving money , in bank and in safe at home. But in relationship I'm in, lets say it's not the best, but all and all, I'm not trying to cheat anyone,Just trying to plan for my four kids future. And if I don't get money out of site. It will be blown on junk, I'm a penny pincher. Other person in my life has beer drinking problem, most of his money goes to that. And if he knew exactly how much kids dad paid. He would just blow more. I'm on disability, I was a otr driver for while. I was in the Texas department of corrections , working , when I was hurt. Deathrow prison guard. I know I don't need to be in bad relationship. I need help in placing money in right places for right reasons , or my kids don't stand chance , one wants to be baby doc , and one wants to be vet, my twin boys aren't sure yet

countrygirl111071 · Mar 16, 2007, 08:12 PM

I'm willing to pay taxes on interest , and all that good stuff, I have clean record and preferr it to stay that way.

excon · Mar 17, 2007, 06:42 AM

Hello country, exprison guard:

But it's OK with me. Evabody has to eat.

Create a living trust and fund it. Nobody will find out about it except the beneficiary trustee. It has other benefits too, like the money will pass directly to your kids without your estate being probated.

You can buy some software that will do it for around $50, or you can see an attorney. A lawyer will probably charge $250.

excon

gazelleintense · May 3, 2007, 05:27 PM

Originally Posted by countrygirl111071

Other person in my life has beer drinking problem,

May I suggest doing something about this first? Like... saying goodbye if need be? That would be putting the kids first. :)

ebaines · May 4, 2007, 11:51 AM

You could open Uniformed Gift to Minors Accounts for the kids with you as the custodian - that way the money goes in your kids' names and SS numbers, and they are assured of having it when they reach the age of majority. Legally this money belongs to the child and must be used only for the welfare of the child, so you can tap into it for things like tuition payments down the road. It would then not be available to buy beer.