Quote:
Originally Posted by ldcox29  Thia is a good idea. We have a savings account for Ruby, but it doesn't earn much. With a CD, is there penalties for withdrawing your money early? |
I have a Jumbo CD in Trust for her at a local bank. There are no early withdrawal penalties after 6 months, as long as 50% of the funds remain. There are no early withdrawal penalties at all after 1 year.
It will provide for any needed medical care, and should anything happen to me, ZoE would go to my daughter, and ZoE's trust will provide for her care for the rest of her life.