Difficult trust and estate decisions
This is a bit of a morbid topic, but we are in the process of drafting our trust and deciding on the terms. We have a good attorney engaged, so not looking for legal advice, but more on how others made the difficult decisions in response to the attorney's questions. We have substantial life insurance policies and own a home in the bay area, which will be sold or used as a rental in event we are both gone so the estate will be funded well. We are going to have the guardians/executors able to use the estate for the benefit of the kids, but since the selected guardians will not need to dip into the funds for living expenses and will just use it for direct expenses for kids and their educational expenses, we expect that there will still be a lot left. Those of you with trusts, at what age did you decide that the corpus of the trust is distributed to the kids? We already know that we want the youngest to be done with college before anyone can access the trust funds for non-approved expenses (medical, education, basic stipend will be provided for separately), but it still feels too soon. Not sure I want a 24 and 26 year old getting substantial sums of cash, but at the same time if they are mature, it seems silly to have their ex-guardian controlling the purse strings. I wanted to tie it to 30 years old, or achievement of post-graduate degree in professional field but it might be unfair as education might not equal maturity and responsibility. Not sure what other criteria to use. Curious what others did. I want my kids to be provided for well but don't want them to be too young when they get the money and get taken advantage of.