Set up a gold savings account for your children or grandchildren with a Trust. Why set up a regular savings account that loses money when you factor in inflation and the laughable interest rates that banks offer.
Here is what you can do to get the children you love prepared for the future.
Question: How can a KB member open an account for their children or grandchildren under 18?
Answer: You can set up a trust for children under the age of 18. Most banks can do this or your Tax Accountant. You will need to find out what the guidelines are for your local jurisdiction. I would start by calling the bank you have your accounts with and ask if they can do this. You would also need to determine who the Trustee would be for the account. The Trustee would manage the account (provide KYC docs) until the child reaches 18 . The Trustee can then transfer the account over to the child at age 18.
You would put the name of the Trust into the company field upon registration... The Trustee would be the representative of the account.
Question: Any plans to just let the parents open a KB account for the kids in the future maybe?
Answer: The reason it must be set up in a legal trust is that, basically you are setting up an offshore account for the child. I do not see any other way to do this legally than through a Trust Account... There are also International guidelines for the KYC... they must be 18...
Question: After I set up the trust for the child what do I do next.
Answer: It is very important that you do one of two things.
1. Either go into your back office in the "dashboard" to find your your affiliate link; copy and paste that into your browsers address bar.
2. Ask your sponsor to give you the last person's affiliate link on your team (to Pay it Forward).
Then click the "sign up now" button. Put your name in (If you are the Trustee) and in the "company name" put the name of the Trust.
Then not only will the child get the gold whe they become of age but will also be gtthe commissions of the business if the account opts in to the affiliate program and is on the team paying it forward!
This is very similar to what would be done to pass this asset on in a will.
