The right time was at the birth of your first child. A trust is necessary to protect your children. Without a trust when your child turns 18(21 in some states) they will have immediate access to their share of your "8 figures." Few 18-year-olds have the maturity to handle that well. As your kids age, and the situation changes you can update your trust.Our "net worth" is approaching 8 figures with about 85% of that in our investments and 15% in our primary home. I am certain that at some point we will want to set up a trust to and ensure our children/grandchildren are taken care of - but NOW seems too early since we will definitely need to make changes to it depending on our kids individual situations.
Statistics: Posted by Jovby — Wed Mar 13, 2024 10:57 am — Replies 10 — Views 427