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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]I would sketch out a rough plan and then discuss it with an estate planning attorney to review the pluses and minuses. With a draft in hand I'd then review it with the parents for their input. You don't want to do something that is at odds with what they might be doing. Keep in mind that the kids are their kids, not yours. At age 40 I would not be setting up an irrevocable trust as once the money goes in it is out of your estate. [/quote]
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