Chapter 5 - THE EDUCATION TRUST
Sophie’s father, Michael Bennett, died when she was five.
Car accident.
No mystery.
No hidden murder.
His life insurance paid off Rachel’s mortgage.
A separate inheritance funded an education trust.
Current value:
approximately $1.9 million.
Trustee:
an independent bank.
Beneficiary:
Sophie.
Funds could be used before college for:
private school tuition,
special tutoring,
medical developmental needs,
approved enrichment,
and certain living expenses if ordered by a court-appointed guardian.
Rachel almost never touched it.
Public school was good.
She paid ordinary expenses herself.
Margaret had always hated that.
“She should be at St. Agnes.”
Too expensive.
“She has money.”
“It’s for her future.”
“She needs opportunities now.”
Then Rachel found correspondence.
Margaret had contacted the trust bank three months earlier.
Subject:
POTENTIAL CHANGE IN GUARDIANSHIP.
She asked what documentation would be required if she became Sophie’s legal guardian.
The bank responded:
court order,
approved expense requests,
annual accounting.
Margaret then asked:
“Would household living expenses qualify?”
The bank answered:
possibly, if directly tied to the beneficiary’s care and approved.
Rachel stared.
There.
Not direct access to $1.9 million.
But a route to reimburse:
housing,
food,
education,
transportation.
If Margaret became guardian, she could potentially turn caring for Sophie into a stream of court-approved expenses.
Not unlimited.
Not easy.
May you like
But possible.
And Margaret had already been practicing with Rachel’s grocery card.
