Legal Question in Wills and Trusts in Michigan

On line resources are very sketchy. I would check with a local estate planning attorney to get advice.

Here is the bottom line. All the options you mention usually not appropriate for a parent with minor children. Frankly, you should consider a living trust and ensure your children do not receive lump sums at a young age. It is wise to ensure their education is provided for and then sprinkle the money to them over a period of time.

If your parents mess up you can handle the emotional and financial affect. Your children can't. Seek out a specialist in estate planning such as myself. consult web site brmmlaw.com.

Don