Reply to Testimentory trust for minor children - what terms would you put on it?

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[quote=Anonymous][quote=Anonymous]We're going to specify in our will that the assets left in our estate plus our life insurance payouts  will find a trust for each of our minor children. We are talking about when the trust would provide funds. If you anticipated a million to a million and a quarter in each trust, what would you specify and why? Simple lump payout at a certain age? Payouts at multiple ages? Allow guardians to cover educational expenses? Something else?

Just curious what people's preferences or recommendations would be. Tips and experiences?[/quote]

We have one kid and she'll receive her distributions in age increments (25, 35, 45). We have provisions to protect against future partners/divorce (some precatory language, some not). For example, stating we want her to have a prenup for the trust assets and to not commingle funds with any spouse (among other things). We have the contest provisions in it (you contest, you are disinherited). And we have remainder funds (or funds if she dies before her children) going only to our grandchildren.

I know some friends who condition distributions on a drug test (we did not). [/quote]

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