Part of estate planning is deciding who receives your assets upon your passing, when they receive those assets and how they receive them. This is important to consider especially when you have minor children or even children who are considered “adults” by law but would still benefit from some life experience before being trusted with a big chunk of money.
With LivingTrustify, you specify when you would like your children, or other named beneficiaries, to receive their inheritance. People usually select an age between 25 and 30 years old because usually they have graduated college by then and have some work experience.
In case something happens to you and your beneficiaries haven’t reached the age you specify in your living trust or will, the trustee named would manage their inheritance for them until they're old enough. The trustee is in charge of managing the money and deciding how much to distribute to your beneficiary. Once your beneficiary is old enough per your instructions, they take full control of their inheritance.