August heralds a new school year. A time to travel with the children, put them in summer camps or have those schooling abroad come home for some family time. While engaging the children during the holiday requires a bit of planning and budgeting, we are relieved the children are returning to school, but we are also aware of the financial commitment that will accompany the new school year.
In less than a month, school fees, hostel fees and other educational levies must be paid. If we are at that stage where the children are going off to university or secondary school next year, we may want to start planning now. It is never early to start planning for the years ahead. You might want to buy property in the country where you would like your children to school or put funds away for retirement.
Although you might not consider it as such, but the thousands of Dollars/Pounds or millions of Naira you shell out regularly to finance your child’s education is in every way an investment. It is an investment in your child’s ambition, a deposit made into their future. While the returns may not be measurable in currency notes, this investment is by all means the most rewarding of your investments and should not be handled with levity.
An investment of such great magnitude deserves to be protected in every way possible. It is important that regardless of the turn of events, your child is able to get the quality of education you desire for him/her.
Whatever stage your child is on the education ladder, a Trust is extremely beneficial. You could want to build up funds for your child’s education in the future or ensure continuity of the same quality of education in the face of unforeseen circumstances. There is so much you can benefit from setting up a Trust.
Wondering what a Trust entails and how it can benefit you particularly? Talk to us today, let us collaborate with you to map out a fool-proof plan to finance their education and secure your children’s future.
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