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    The Young and the Restless - MESSAGE BOARDS

    Soaps Boards :: The Young and the Restless Forum :: Help me to understand????

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    Help me to understand????

    Started by phickfanalways at 2008/02/27 12:08PM
    Latest post: 2008/02/29 10:59AM, Views: 1168, Replies: 38
    « 1 2 3 4 » »| page:
    #21   2008/02/27 06:16PM
    Re: Help me to understand????
    Snizzle
    image

    I dont really know about trust funds..can a parent cut it off or get rid of it after it's set up? or is it once one is made..it's the childs money ?

    #22   2008/02/27 06:25PM
    Re: Help me to understand????
    Allspice
    image

    Quote Snizzle: I dont really know about trust funds..can a parent cut it off or get rid of it after it's set up? or is it once one is made..it's the childs money ?


    If the trust fund is put in the child's name it is the child's. If it simply in trust without a name I think it can be used by the person who set it up. We set one up for our grandchildren without names. We set it up specifically this way so we have a bit more control.
    If it is for a specific purpose, eg education, I think it has to be used for that purpose.

    #23   2008/02/27 06:27PM
    Re: Help me to understand????
    Snizzle
    image

    Thanks Allspice!!!

    #24   2008/02/27 06:28PM
    Re: Help me to understand????
    Eppy
    image

    This is a little of some information I got off the internet about setting up a trust fund:


    You don’t have to be a millionaire to set up a trust fund for friends or family. Many people do it these days and for a variety of reasons, which include:

    - A method with which to avoid the hassles of probate court.
    - A way to ensure the proper management of your assets.
    - To make sure that family or friends are taken care of.
    - To simplify the resolution of estate taxes.

    #25   2008/02/28 07:46AM
    Re: Help me to understand????
    Plot-Twister
    image

    I don't understand why Nick should have to change his name. Everyone knows what he looks like, should he have plastic surgery too? I don't mean to sound snide, but Victor's contacts are Nick's too. Victor might have known them longer, but Nick knows them too.

    The point is that it is Nick's money. He can't withdrawl it, but he can borrow against it. I don't see why he has to change everything about himself to start a new company. Then, he wouldn't be Nick anymore.

    They all move in these circles of power. That circle consists of the same people. As for letting Nick grow a business, well, that is what he is trying to do. Yeah, he is partnering with Jack, who Victor hates, but Nick and Jack have always had a strong bond ever since he was Nick's stepdad.

    #26   2008/02/28 08:11AM
    Re: Help me to understand????
    goodwitch1956
    image

    I wonder if Victor recalls who paid his bail which Iam sure was high. It was his Son that has betrayed him. Has Victor paid him back.

    I want Nick and Jack to do well in there business venture.

    Being a parent sometime you have to let go and let live
    Also you should support your childern in their dreams

    Its his money thats all that matters hissssssssssss not Victors

    #27   2008/02/28 10:17AM
    Re: Help me to understand????
    1NerveLeft
    image

    A trust fund is a trust fund. It's Nick's money at this point regardless of his relationship with Victor. It is really bothering me the way Victor is acting. My parenting style is different. I want to see my kids do good...whether I am mad at them or not. I would never intentionally try to undermind everything the way Victor is doing. It is really bothering me. Why can't he let Nick have a chance of success or failure without his interference. It's driving me nuts!!!!

    #28   2008/02/28 10:25AM
    Re: Help me to understand????
    JanND
    image

    Maybe Nick can cash in his Newman Enterprises stock. He is sure to have some. That would really get to Victor. Wonder what happened to the money from the sale of the coffee house. And aren't JT and Vikki buying Sharon's house from her divorce settlement? That should bring in some dough.

    #29   2008/02/28 10:26AM
    Re: Help me to understand????
    KeepingItReal
    image

    Quote Plot-Twister: Nick is capatilizing on his connections of being a Newman. I don't really see any problem with it. Nick is being responsible and trying to fund his dream. He doesn't want other investors telling him what to do. That was the problem he had while he was working for his father.

    It is not Nick's fault that he was born into a wealthy family. Victor set up the trust fund for him. Nick can't use it until he is 40. So, he is taking a loan out against it. I don't see a problem with that either. It is a secured loan. In a way, he is using it, but he is using it for what he wants - his dream. It is not like he is borrowing against it for drugs or evil.

    When Victor hit him with that line about how he hopes Noah doesn't treat him the way Nick treats him, Nick should have said something like "I'm going to be a supportive father not a absentee dictator". Nick needs to stand up for himself. He does his standing up in a very passive/aggressive way. He ignores his dad, hooks up with Jack etc. He just needs to be more assertive. I think that is what bugs Victor the most - that Nick is more like Nikki.

    Now, if the hahvahd graduate, 2nd in his class wanted to open a rag mag, Vic would be all over it, not to mention in it, trying to control it.


    I see we on the same page! Right on!

    Oh yes Nick should of fired back with that!!

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