trusts?

Question

Has anyone set up trusts for their babies, naming guardians, etc? Did anyone do separate ones from their spouses so some things weren't commingled? Any tips? Did you do them with an attorney?

Answer

And our trusts will be separate.  I will be trustee for my trust then goes to him, then to who we designate as guardian for baby and he will do same. We are already beneficiary for each other. The idea of the trusts is to avoid probate and in reality it's to establish hiw we want money spent in event we both die so whoever raises him has money to raise him but can't be irresponsible

Answer

The biggest thing we plan to have in place right away is getting something notarized stating who we would want Baby to go to if we were to both pass. Eventually we will set up Baby as the beneficiary for our assets with terms- i.e. some $$ would of course be available to the guardians for cost of living, some would be available for college education, some at a certain age, etc.

Fingers crossed none of it is ever needed! :/

Answer

With my girl i receive child benifet monthly and i just put this into a savings account for them so when their older theres a substantial amount. I dont do it by attorney or anything like that just in girls name with a restriction on account she cant have money to 18 with my signed consent. If shes too immature il not sign to she is basically.

Answer

Waiting until baby is actually here and we will use an attorney. We will both do wills and put house, accounts and do everything in a trust.

trusts?

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