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529 for Sean's Daughter...


paige3girl

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For some reason I cannot get into the post asking about a fund for Sean's daughter. However, my response would have been this... I was asking my husband about this today on the way to the train station -- he works for Smith Barney.

The best thing to open is a 529 -- which is a fund to be used for college only. It can be opened 6 months after birth and the funds would be available when she was accepted to college. You can also open a trust that does not have a college clause however I think a 529 is a better option.

If people are interested in doing this I can definitely get more information.

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i think a fund would be a good idea....i also have no doubt that there will be contributions from players around the NFL, from dan snyder in our organization (give his family the rest of this year's pay check!!), and that sean had saved enough money for his girl and daughter to comfortably live off of for a few years.... assuming the inheritance isn't split amongst the whole family.

i wonder what will happen with his girlfriend, since she is his baby's mother but not his wife?

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I think there needs to be a fund, but I am really not sure that it needs to be for Sean's daughter. Sean was a millionaire athlete and I would think there are several large insurance policies out there throught the NFLPA. My guess is that his daughter's smallest problem right now is college money.

I would suggest a Sean Taylor Memorial Fund for children who really need help.

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I understand where you are coming from. I'm sure Jackie was his first concern for everything.

Still, I agree with those saying money may be pointless.

I think it would almost be worth more if we could send anything and everything we have that might help her learn a little about her father. Letters and stories from those who met him, anything he signed, pictures you've taken... anything, no matter how small. She deserves to know about him as she grows, and he deserves for his little girl to know what kind of man he was. It wouldn't be much, but maybe it would be something.

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I understand where you are coming from. I'm sure Jackie was his first concern for everything.

Still, I agree with those saying money may be pointless.

I think it would almost be worth more if we could send anything and everything we have that might help her learn a little about her father. Letters and stories from those who met him, anything he signed, pictures you've taken... anything, no matter how small. She deserves to know about him as she grows, and he deserves for his little girl to know what kind of man he was. It wouldn't be much, but maybe it would be something.

that sounds like a really great idea. i would think that getting the opportunity to know more about her dad or to be given things that he had touched or held would mean more than money.

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I understand where you are coming from. I'm sure Jackie was his first concern for everything.

Still, I agree with those saying money may be pointless.

I think it would almost be worth more if we could send anything and everything we have that might help her learn a little about her father. Letters and stories from those who met him, anything he signed, pictures you've taken... anything, no matter how small. She deserves to know about him as she grows, and he deserves for his little girl to know what kind of man he was. It wouldn't be much, but maybe it would be something.

That is an absolutely GREAT idea!

I appreciate all the people who suggest sending money, but I agree that she is going to be setup for life. Even if Sean doesn't have any money left, life insurance alone should put her in a good situation.

I think that little girl being able to look at personal accounts and memorabilia of her father when she gets older would be priceless, absolutely priceless. :applause:

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For some reason I cannot get into the post asking about a fund for Sean's daughter. However, my response would have been this... I was asking my husband about this today on the way to the train station -- he works for Smith Barney.

The best thing to open is a 529 -- which is a fund to be used for college only. It can be opened 6 months after birth and the funds would be available when she was accepted to college. You can also open a trust that does not have a college clause however I think a 529 is a better option.

If people are interested in doing this I can definitely get more information.

This is an excellent idea. I am a financial advisor with a special emphasis in insurance and estate planning and do not invest peoples money in stock equities as that is a completely different license. I choose to specialize in life and health. That being said, a 529 plan is a great tool that can be used for any type of education, not just college.

When someone has a 529 plan and applies for public assistance through financial aid this money is invisible and the institution she is trying to get a loan from can't turn her down because she has enough money in her 529 plan. If the money was in a stock mutual fund or other types of investments, then they could turn her down and tell her she doesn't need the money.

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His daughter is going to be set financially. If you want to donate then donate to a charity in his name or establish a scholarship in his name. But do something positive with the money.

:applause: I agree, good advice, I'm not sure about 2007 but 2004-2006 he made a little over 14 million, I'm sure she will be fine.

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