Reply to Irrevocable Trusts impact on FA?

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[quote=Anonymous]We currently are FA family with 2 kids in private MS.  My mom who I was estranged with recently passed and listed my 2 kids - her only grandkids as the only beneficiaries to collect the fund at age 25.  The money is not for us - is for them upon turning age 25 but with the exception of medical, educational and well being care, funds are able to be withdrawn upon the discretion of a 3rd party Fiduciary.

From what I've read online, irrevocable trust assets will impact FA because it's seen as family money.  However, the 2 Trust management 3rd party orgs I've spoken with sounded like FA is something that can still work for us.  I wasn't sure if they were just saying that as a sales technique for us to sign on with them or if anyone has had experience with this, would love to know.

We aren't a well to do family and again, the money will be held by a 3rd party to determine funds for our kids but for education, it could help us quite a bit.  Wasn't sure however if we used it, we'd use every penny!  [/quote]

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