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 - On the Road with Dave Gohl: Auction Musings - by Dave Gohl. I was thinking the other day about all the auctions I've been to in the last few years. There've been many. Some have been very good, some have been well, disappointing to say the least. But no matter how good or bad auctions may be, we always seem to stay until the item we've come for or are interested in is on the block. I've been to some auctions near and far. I think the furthest has been the Two Cylinder 7 in the Amana Colonies last year. Lots of stuff, lots of people. I've also atten
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