Quote:
Originally Posted by Gigi3000
Interesting thread. I am getting ready to change my will, giving each of my two children $15000 per year for the remainder of their life, paid in one lump sum yearly. After their death, the remaining funds will then be paid to the grandchildren, the same way. Anyone have any thoughts on this? I havent talked with an attorney on this yet as I have an undetermined inheritance coming to me still so really dont know what my total estate might be.
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Based on your post, I don't think you can accomplish what you want in a will. You will need a trust and a trustee who will manage the money efficiently, and not skim off a lot of management fees, taxes, and other fees. I would evaluate the cost to set up a trust and have it managed for many years. It may not be worth the cost.