I'm establishing a trust that in the case of my demise, will leave my estate to my grandchild (currently a pre-teen)
If the worst comes to pass, it would be a huge windfall for a young person. I am choosing a trustee instead of her parent, since her parent is deceased and she lives with the other parent (my former son in law) and he is a spendthrift.
So the trust can go out to 30 or 35, but seems like she should receive some distributions if she goes to college and needs some funds.
Do you have a trust in which you have placed conditions on the distributions?
In the case of healthcare or educational expenses, does the trustee give the money direction to the school or provider? or to the young person? Thanks
If the worst comes to pass, it would be a huge windfall for a young person. I am choosing a trustee instead of her parent, since her parent is deceased and she lives with the other parent (my former son in law) and he is a spendthrift.
So the trust can go out to 30 or 35, but seems like she should receive some distributions if she goes to college and needs some funds.
Do you have a trust in which you have placed conditions on the distributions?
In the case of healthcare or educational expenses, does the trustee give the money direction to the school or provider? or to the young person? Thanks