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Ideas to set up in-inheritance plan?

I am interested in ideas, how to set up a trust for my children (2) and grandchildren (2 each).
My one daughter is not good at managing money, and I do not it all to be gone in no time on foolish things.
I want to set something up that they get a fair share, but maybe distributed over time, and the same for the grandkids.
I have a trust now with m wife, and simply state the trustee should manage the trust in the "best interest".
I have heard if you do not dissolve things, or create some kind of long term trust for each person, it can be costly.
Any advice?
Options: You can set up some of the assets so they purchase an annuity for your heirs. This would give them a monthly allowance. You can't determine that allowance in advance because rates change.

If you donate to charity, and plan to have any of the inheritance go to charity, then separate those funds into a separate IRA (not Roth) so taxes won't be taken from it.

A lawyer who has a CPA on staff would be your best bet.
There are many types of trusts that can be setup for children and grandchildren. I suggest you contact a family lawyer  that specializes in estate planning. This is to get the proper 'wording' that protects the trust after it's been created and also guide you on the tax qualifications and consequences after creation. This comes at a cost but saves money in the future when the trust is challenged by the beneficiaries or someone trying to sue the beneiciary.
The A/B trust, credit shelter trust and other names, the bypass trust primarily was used to ensure maximum use of the federal estate tax exemption. It also prevents someone else from influencing your surviving spouse to distribute the assets in a different way. You determine how the wealth is distributed to your children, or other beneficiaries, after your spouse passes away.It could all be distributed to them in a lump sum or appoint a trustee to retain most of the property for a period of years, and distribute income or other amounts each year until a final distribution occurs. Thus trust also protects the assets from being taken by a spouse of one of your children in a divorce.
Another way to do that without giving beneficiaries full control is to put the assets in an irrevocable trust. It protects assets from creditors, lawsuits and divorcing spouses and allows you to set the ultimate distribution of the income and assets to the beneficiaries. A trustee does the professional investment management, and insulates the assets from poor decisions of beneficiaries.
I agree with your thoughts
I made sure to cover my grandkids as well
as each has a trust and their college will be paid out of the trust as needed as long at they maintain a C average
Dont forget charitable donations as part of the inheritance
I have pet refuges, Veterans organizations , Hospice ,
Especially the church
( as I figure God will like this and maybe cut me some slack for my final destination )

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