The situation you describe is a common one. Such a trust is usually called a spend thrift trust. You can find books on this subject at your local library. You probably want a testamentary trust that becomes irrevokable on the death of the parent. An attorney specializing in estate planning can help you set one up.Books at the library will walk you through various decisions that need to be made. Or your attorney can do this too, but he will charge for his time, increasing your bill. The more you can make prompt decisions and not have to think about it, the fewer office visits required to put it all together. So do your homework and know what you want before you see the attorney.A major consideration is who will be the trustee that makes the decisions. If one trustee dies or retires, who will replace him or her. How is that person chosen. How much freedom does the trustee have to provide additional funds in say an emergency. etc etc. When does the trust end. And then what happens to the assets.The trustees is often the trust department of a local bank, but these days you may also be able to find mutual fund companies willing to act as trustees--especially if you allow them to invest your funds in one of their portfolios. Fidelity and Vanguard come to mind as places to contact for information.If someone in the family can act as trustee, that might be more economical as trustee fees can be a major concern.Setting up such a trust as part of an estate plan is likely to cost about $1K depending on complexity. That is probably practical for $100K--especially considering the alternatives.Good luck.
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