Legal Question in Wills and Trusts in Pennsylvania
Trust
We're doing a codicil to our wills. We want to leave a specific real estate property to our grandchildren, all under 21.
What is the proper wording to leave the property to the grandchildren with our children being the trustees until they reach the age of 25?
Thank you.
1 Answer from Attorneys
Re: Trust
You can be simple about it or you can be complex about it. It depends on how you want to control what happens. You could say:
"I give, devise and bequeath all my interest in the real property located at 1600 Pennsylvania Avenue, Washington D.C., to my grandchildren, to be held in trust, until they turn 25 years old. The trustees for this trust shall be my children, Sam, Sally and Fabian."
This is pretty simple and will accomplish the basic part of putting it into a trust. What you might want to consider, though, is writing out what happens in the meantime while the property is in trust. Or what happens when one grandchild turns 25 but the others are still too young. These are questions an attorney can help you with.