I'm interested in this approach - is there any charge to create the trust? Also, I wish the minimum for Vanguard was lower - I already have an investment account with them, and this seems like a great way to get started.
Shouldn't be - I think it's just the same as most investment accounts in that there is a small management fee that takes a percentage cut. In this way Vanguard is the best as it has the lowest rates I know of for the casual investor, but the minimum is certainly high.
