Morristown, New Jersey Law Firm Video Frequently Asked Questions
Last Will and Testament Trusts for Children
In many cases, individuals have young children who they do not know whether in the future they are going to be able to manage their property well, so it allows you to have trusts establish in your will so your children do not receive the money all at one time, say at the age of twenty-one.
You have the ability to put in your will provisions where they may receive over staggered periods, the money such as one third the age of twenty-five, half the remainder at thirty, and the balance at thirty-five. This way you space out the distributions so a child doesn’t spend all the money immediately upon receiving it.