Jump to content
rob999

College/Trust/Future Funds for Kids for UK and US family

5 posts in this topic

Recommended Posts

Hey all, I have a nearly one year daughter, born here in US. I would like to set up a fund where family members can contribute for her future.

 

In the UK these used to be trust funds so tax “free” etc etc.

 

We would like to give her as many options as possible where she can go to college in UK or US (avoiding Brexit blahhh!). In addition where both family’s in US and UK can contribute pre-tax and/or avoiding nightmares of so she gets the best benefits for her tuition.

 

I’m researching online and it’s a lot and seems many options to look into, pros/cons etc. if anyone had any pointers/experience then would certainly appreciate any tips/hints etc!

 

I was looking at getting financial advice but even that I struggle in find someone whom I can be confident in their experience beyond the typical sales quotes on websites.

 

Im a UK citizen, came here on K1 and now Green card. 

 

Thank you for any tips or pointers as I research!


K1 Timeline

November 21st 2013 - First Met

November 18th 2014 - I-129f Submitted

November 24th 2014 - NOA 1

May 22nd 2015 - NOA 2 - no RFE!

June 4th 2015 - Case Sent to NVC

June 6th 2015 - NVC receives case

June 15th 2015 - Case Sent to Embassy

June 16th 2015 - Phoned NVC and finally got case number (tried 12th June and had not been assigned)

June 16th 2015 - Medical booked

June 21st 2015 - Sent Packet "3" - DS 160 and readiness

June 25th 2015 - Embassy sends letter in receipt of receiving case

June 30th 2015 - Medical

July 28th 2015 - Interview - Approved!

August 3rd 2015 - Email request to collect from courier office (Went straight from "Ready" to "Issued" did not see AP in CEAC)

August 4th 2015 - Collected packet from Chancery Lane Courier Office

August 7th 2015 - Arrived in Houston and end of K1 journey :)

Adjustment of Status Timeline

August 10th 2015 - Applied for SSN, obtained SSN number next day

August 15th 2015 - SSN card arrived

August 20th 2015 - Married! :)

August 24th 2015 - sent packet to USCIS via FedEx [AOS, AP & EAD]

August 26th 2015 - packet received at USCIS

August 28th 2015 - NOA 1 for all three applications

September 15th 2015 - RFE - request 1040A, W2's was not enough

September 24th 2015 - Biometrics completed

September 28th 2015 - RFE response received by USCIS

October 27th 2015 - EAD approved

Share this post


Link to post
Share on other sites
37 minutes ago, rob999 said:

Hey all, I have a nearly one year daughter, born here in US. I would like to set up a fund where family members can contribute for her future.

 

In the UK these used to be trust funds so tax “free” etc etc.

 

We would like to give her as many options as possible where she can go to college in UK or US (avoiding Brexit blahhh!). In addition where both family’s in US and UK can contribute pre-tax and/or avoiding nightmares of so she gets the best benefits for her tuition.

 

I’m researching online and it’s a lot and seems many options to look into, pros/cons etc. if anyone had any pointers/experience then would certainly appreciate any tips/hints etc!

 

I was looking at getting financial advice but even that I struggle in find someone whom I can be confident in their experience beyond the typical sales quotes on websites.

 

Im a UK citizen, came here on K1 and now Green card. 

 

Thank you for any tips or pointers as I research!

Should also mention we live in Texas. Thanks!


K1 Timeline

November 21st 2013 - First Met

November 18th 2014 - I-129f Submitted

November 24th 2014 - NOA 1

May 22nd 2015 - NOA 2 - no RFE!

June 4th 2015 - Case Sent to NVC

June 6th 2015 - NVC receives case

June 15th 2015 - Case Sent to Embassy

June 16th 2015 - Phoned NVC and finally got case number (tried 12th June and had not been assigned)

June 16th 2015 - Medical booked

June 21st 2015 - Sent Packet "3" - DS 160 and readiness

June 25th 2015 - Embassy sends letter in receipt of receiving case

June 30th 2015 - Medical

July 28th 2015 - Interview - Approved!

August 3rd 2015 - Email request to collect from courier office (Went straight from "Ready" to "Issued" did not see AP in CEAC)

August 4th 2015 - Collected packet from Chancery Lane Courier Office

August 7th 2015 - Arrived in Houston and end of K1 journey :)

Adjustment of Status Timeline

August 10th 2015 - Applied for SSN, obtained SSN number next day

August 15th 2015 - SSN card arrived

August 20th 2015 - Married! :)

August 24th 2015 - sent packet to USCIS via FedEx [AOS, AP & EAD]

August 26th 2015 - packet received at USCIS

August 28th 2015 - NOA 1 for all three applications

September 15th 2015 - RFE - request 1040A, W2's was not enough

September 24th 2015 - Biometrics completed

September 28th 2015 - RFE response received by USCIS

October 27th 2015 - EAD approved

Share this post


Link to post
Share on other sites
Posted (edited)

We have been looking for our 1 year old here in California. Family in the UK are collecting but not investing yet in the UK We can get an ISA set up when we go to live in the UK for six months during some work leave we have in a few years. They did have a limit on only being able to open an ISA if you lived in the country but that might have changed/different for children. ISA rates though have been pretty bad for a while though

 

Agree with @aaron2020 check the 529 for your state has it listed that they payout for all fafsa eligible institutions, some uk (and other international) institutions are Fafsa eligible. This would give your little one the ability to put it toward a us or a uk college, but check the fine print as not all states have 529 that allow all fafsa eligible institutions. 

Edited by Illiria
Additional info

K-1 Met:2002 Dating :2003 I-129F Sent : 2013-06-01 I-129F NOA2 : 2013-08-20 Medical: 2013-12-20 Interview Date : 2014-01-22 POE: 2014-02-19 Wedding: 2014-03-18

AOS/EAD Date Filed : 2014-04-04 BioAppt: 2014-05-13 EAD in Production: 2014-07-08 Interview date: 2014-07-14 Green Card received: 2014-07-19

ROC Date Filed: 2016-04-26 Cheque Cashed: 2016-05-10 NOA1: 2016-04-28 Biometrics: 2016-06-30 Approved: 11-08-2016 Green Card Received: 11-18-2016

 

Citizenship Date Filed: 2017-04-18 Cheque Cashed: 2017-04-24- NOA1:2017-04-21  Biometrics: 2017-05-19 Inline: 2017-07-12 Interview Date: 2018-02-13 Oath: 2018-03-15

Share this post


Link to post
Share on other sites

In some states you can also purchase future classes at current rates, downside is if the child does not attend that college you are out of luck, it is also not transferable 


 

 

Share this post


Link to post
Share on other sites
 

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
- Back to Top -


Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×