Bichon Frise wrote:
I've thought long and hard about this. And almost went the route of setting up a complex trust with various rules. At the end of the day, it was decided that we trust the people who would handle the well being of our posterity. And setting up a complicated will and trust could potentially leave the kiddos with some unintended consequences. Then it got to the point where I couldn't ever figure out when to end the nonsense. We instead have written what we would have done, our wishes & desires and will let those in charge use the discretion we trust they have to do the best thing for everyone. Perhaps our kids get the short end of the stick. But, just like raising your kids, eventually you have to relinquish control.
Who are you leaving the assets to? Your offspring, or their caregiver(s)?
In the former case, leaving it to the child(ren): my (sadly quite limited) understanding is that they get placed into a trust anyways, but with a court appointed trustee. And then that trust automatically gets paid out in full when the child reaches age 18.
In the latter case, to the caregiver: it seems there could be problems getting any remainder to the child. Would they have a limit of 13k (26k for couples) per year given from caregiver to child?