Some examples of how people typically leave gifts in their wills and trusts, include:
- Married Persons with Children. If you are married and you have acquired all or most of your property during tour marriage you might leave all your property to your spouse if he or she or she survives you and then to your children (equally or unequally) if your spouse does not survive you. If your children are minors (under age 18), then the estate would be held in trust for their benefit until they reach whatever age(s) is designated. Sometimes e to a trustee to be held in trust on behalf of your minor aged children, and provide that their health, education and welfare be provided for, including perhaps college and graduate school, with the children receiving portions of the amount remaining in trust as they mature. I often provide 30% at age 21 and the remainder at age 30 but some clients prefer the ages to be older or younger.
- Second Marriages. If you are in a second marriage and had children form your first marriage or married later in life, you may want to leave your property partially to your spouse and partially to other family members or to be held in trust so that the income can be paid to your spouse during his or her life but leaving the principal of the trust to other family members such a children from the first marriage.