A little background - I am 31, married, no kids, and have lurked on PF for a while now. Before I get any comments about taking care of other finances first, I am on top of all the PF recommendations with my retirement funds, debt, emergency fund, etc.
I have a dream to create a trust for my children and future generations to come. I am contributing a small percentage of my monthly pay to a 90/10 robo-advisor to what will eventually fund this trust I'm imagining. I will eventually change the investment vehicle once I have accumulated enough funds. I would like the trust to have my future children as the beneficiaries, with 50% of earnings distributed each quarter/year for example, while the rest is added to the corpus. There would be no restrictions on the beneficiary's use of the funds. This could begin around the age they turn 25. I would advise (require?) my children to contribute something, even if very small, to the fund to help it grow. This is to help the trust grow over time and benefit more than just one generation.
My questions to PF are: 1) Does such a trust exist? 2) What are the implications I may not be considering if I create this trust? 3) Is there another legal device that should be considered over a trust? 4) What investment vehicles would you recommend if the corpus were to hypothetically exist in perpetuity? 5) Am I crazy?
Thanks in advance for any replies. I'll happily provide more details if I forgot anything pertinent.
Submitted March 15, 2019 at 11:21AM by two10netnever https://ift.tt/2T8c0Pm
