No. of Recommendations: 1
I second everything Rayvt said.

Both our sons benefited greatly from the trusts left by their paternal grandparents. It wasn't a great deal of money, but it was enough to prevent them from going into debt to get advanced college degrees.

They get control of 25% of the trust at 25 years old, another 25% at 30 and full control at 35. The older boy (27) hasn't bought a flashy car, much less bought a house or condo, using the trust for a down payment - even though he's working full-time now.

That said, the trustee can make any decisions about turning the money over to the grand kids for whatever reason, depending upon the wording of the trust. If the wording of the trust hasn't been specified, consider adding some flexibility.

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