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As part of getting their estates in order, my parents have established trusts (2 -- one each) to protect as much of their assets as possible from the Taxman. So far , so good. Now it's time to fund the trusts, and I was wondering whether any of you had thoughts on the following.

The current plan is to fund the trusts (to $600k each) with their home and TIAA-CREF assets, as follows: Trust 1 -- home (currently worth approx. $300k) and CREF Stock (currently ~$500k).

Trust 2 -- remainder of CREF Stock and CREF Bond Market account ($400k).

Then use TIAA Traditional Account (current value approx. $300k) for "long-term" pay-outs. My folks figure they'll need about $4500/month (today's dollars) to live on. $19k/year should come from social security. They plan to blow/pay down their mortgage with about $150k taken from the combined accounts.

Any thoughts? Need more info? Both parents currently retired and approaching 70 yrs.

Any advice/comments greatly appreciated!
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