Forums
New posts
Search forums
What's new
New posts
New profile posts
Latest activity
Internet Search
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Parent Support Forums
Substance Abuse
Paranoia - Maybe silly but...
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Signorina" data-source="post: 505515"><p>We are working on our wills also. Right now, our assets and life insurance proceeds go into a testamentary trust to be used for our kids' expenses by the trustee (my mom or my uncle) when our youngest turns 25, the remaining funds are distributed equally among our 3 kids. I have told my mom that if both h and I were to die and difficult child is still a difficult child at age 29, she should spend down the trust for the benefit of my two other children so that difficult child gets as little cash as possible. </p><p></p><p>I believe a testamentary trust has to terminate when the "child" is 25 but it likely depends on the state. I think the max in any state is age 25 and it may be 21 in others. Since your difficult child is only 18 you could set up your will that way and revise it if need be in 6 years. But you will need a trustee to oversee it - a friend, a lawyer, anyone?</p></blockquote><p></p>
[QUOTE="Signorina, post: 505515"] We are working on our wills also. Right now, our assets and life insurance proceeds go into a testamentary trust to be used for our kids' expenses by the trustee (my mom or my uncle) when our youngest turns 25, the remaining funds are distributed equally among our 3 kids. I have told my mom that if both h and I were to die and difficult child is still a difficult child at age 29, she should spend down the trust for the benefit of my two other children so that difficult child gets as little cash as possible. I believe a testamentary trust has to terminate when the "child" is 25 but it likely depends on the state. I think the max in any state is age 25 and it may be 21 in others. Since your difficult child is only 18 you could set up your will that way and revise it if need be in 6 years. But you will need a trustee to oversee it - a friend, a lawyer, anyone? [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
Parent Support Forums
Substance Abuse
Paranoia - Maybe silly but...
Top