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Ric Edelman Answers Child IRA Question and Reveals Today's Investors' Biggest Question
Fiduciary News Link to more items from this source
May 20, 2014
"You can't establish an IRA unless you have earned income, which most children lack. IRA rules also limit the amount you can contribute; there is no limit for the RIC-E Trust. And most importantly, the 'Child IRA' does not prevent the child from accessing the money prior to retirement. This is the most important element ... an irrevocable trust, meaning the child cannot touch the money. All financial advisors know that if the child is permitted to have access to the account, he or she will do so."

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