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system
what are the benefits of setting up an education trust fund for children?
user
well, first off, if your children are nz citizens, they can borrow money at 0% interest for tertiary education and i don't see any benefit to not taking free money. a saving account is your money, and will accrue a little bit of interest and you will pay tax on that. a family trust (i hope this is what you mean by trust fund) is a separate financial entity that can be set up to own assets for the benefit of multiple people. for example, if you have a rental property or business and you want the income divided between your children, rather than coming to you, or if you have a bach you want to keep in the family after you die.
assistant