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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]OP here. Current NW is $5MM, but likely to go up to $10MM in a few years. This does not take into account any other appreciation of assets. We’re in our 40s. [/quote]

No, you should not be putting any assets in an irrevocable trust unless there’s something else major going on and it’s part of a comprehensive estate plan prepared by a reputable professional that you then ran by another reputable professional. I can’t even think of what a that situation would be, I guess maybe non voting shares in a company that’s about to patent alchemy? What you’ve written does not support the idea.

And you certainly wouldn’t put your house in one.  [/quote]

We have about $9M now (late 50s) and likely have $20M by the time we are dust.  We are considering setting up an Ir trust so kids get a certain amount each month vs the entire amount. All kids will be past 30 by then, but we are concerned about one that is likely to make bad decisions with the inheritance if they get it in a lump sum. The others don't need the inheritance and receiving the money in one shot vs. as an income stream won't matter to them. Good idea? Bad idea?[/quote]

I would just use a testamentary trust (one that kicks in by operation of your will after you die). You are still well under the estate tax threshold which is $30 million per couple in 2026 with automatic inflation adjustments.

Or with $9 million you could pay someone for advice too[/quote]

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