Is it possible to put a Will on an estate that you own, that basically lets a BANK gain possession of the entire estate (in the event of the estate holders death)whereby the BANK pays the inheriters monthly checks for living expenses based on the value of the estate for their life time?

What is this called if anything?

What about after the inheriters decease, where does the estate go?

Is it possible to put a Will on an estate that you own, that basically lets a BANK gain possession of the entire estate (in the event of the estate holders death)whereby the BANK pays the inheriters monthly checks for living expenses based on the value of the estate for their life time?

Yes.

What is this called if anything?

A trust.

What about after the inheriters decease, where does the estate go?

Wherever you specify (in the trust, not from the grave).

This question, coupled with your previous question (I don't know of any monetary advantage), tells me that you need to see a lawyer. You can't do this sort of thing on your own, and the lawyer will be able to set things up so that what you want to happen happens when--not if--you die.

TMF ExRO
Phil Marti