Reply to If you were setting up a trust for your nieces/ nephews how would you do it?

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Reply to "If you were setting up a trust for your nieces/ nephews how would you do it?"

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[quote=Anonymous][quote=Anonymous]I have no  children. Wanted to but things didn't work out in my favor in that regard. Now at 40 revising my long-term plans.Plan to give some money to my siblings kids. Total of 4 children it will be divided equally. There's an age gap so the oldest would in theory get their share 15 years before the youngest. I want to set it up so that it's received in increments it's a significant amount of money though so I don't want them to have it all to blow through in their youth but also think it would be helpful for college expenses etc. My thoughts are accessing one portion at one age and the next at 25 - 30. Also considering just covering tuitions full or partial and other gifts along the way  such as housing, wedding etc and then the largest gift  either at 30 or when I'm gone. Also considering getting land in their name.  Of course will be discussing everything with their parents but want some sort of game plan. Just starting the process.
 [/quote]

I would actually start with an experienced estate attorney in your state before even discussing with their parents.

Depending on the money and value you can actually have four successor trusts, one for each kid, which may make resolving some of your questions easier. [/quote]

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