Of the options we've listed for your children's finances, this is the most restrictive.
You can design the trust to dole out money to your child at set milestones if you die prematurely.
A living trust makes particular sense in messy family situations: A contested will won't affect the trust or the money set aside for it.
Along with a will, setting up a living trust can cost anywhere from $1,200 to $5,000.
Best way to give kids a firm financial footing: Set up a living trust
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