A fellow some years back tried to sell my mom on a trust. It was a poor idea given her assets and intentions.
Others have said it below, and are right. The best advice you'll get here, and the only advice you should take away from here, is to get good legal and financial advice. That means lawyers and financial types experienced in estate planning.
I worked for some years on the charitable side of trusts, and never ceased to be amazed at how often the donors' attorneys had no grasp whatever of the tax and legal implications of what their clients were trying to do. At times, they were suggesting things that the law simply doesn't allow. More than a few times, I turned down the gift to the institution I worked for because the structure of the trust or whatever was just plain wrong for the person creating it. One of the worst was a fellow who handed us a done deal that his lawyers (NOT experienced estate lawyers) had created. Not only did the trust incur unspeakable taxes, reducing the income they were to provide for the grantor during his lifetime, there was almost nothing left for the charitable causes he wanted to leave his estate to.
Go to actec.org, American College of Trust and Estate Counsel, and look up an attorney. They have a search function by state. To even be a member of ACTEC, an attorney has to know his stuff. That would be a good starting point.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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