Cohortskates

If you die with a trust, on the other hand, while the courts still have the final say over guardianship, you at least can make the important decision of how, when, and for what purposes your children will receive the money you are leaving them. You assign a successor trustee (your chosen guardian, for example) or two or three or however many you like, specify when you want your children to receive their money, how you’d like that money to be used until that time, and poof, it’s done. The successor trustee(s) takes care of your children’s financial lives on your behalf. No yearly reporting, no fees, no nothing.
Think trusts are for old people who are likelier to die? Think again. Trusts are for people who are lucky enough to live among people they love. Trusts are for people who are responsible to those they love.

HAVE YOU EVER arrived at the scene of an accident on the highway and thought, Oh, God, I’ve really got to get around to doing my will? Has a friend or colleague ever had a cancer scare that made you think, I’ve got to make arrangements for my children in case anything happens to me? Does turbulence when you’re flying somewhere remind you in the pit of your stomach of all the affairs you don’t have in order? But a few minutes later the traffic starts moving, your friend’s scare turns out to be nothing, the turbulence dies down, your thoughts move on to something else, and everything is back to normal.