I'm getting serious about setting up a meeting with a trust planner and want to put down some ideas
as to how to divide our nest egg. We are in our early 60's.
We have two kids one is single a son and the other a daughter is married for the second time.
Marriage is less than a year old, but we like the guy and he is a worker, so far it looks good.
He has a 10 year old son, who they now have custody of thanks to my daughters fastidious* record keeping.
Between my wife and I, who ever dies first the other gets everything, when that person dies, then come the tough decisions.
I expect to subtract about $300k from my daughters part because we will have paid her Dental school tuition.
I expect tat $300k could easily double if it was invested, but I don't think I care to insert that calculation.
The rest of the nest egg would go to my son.
Revocable, non-revocable, anything else I need some understanding of so I can at least ask the right questions.
Any feedback is appreciated.
*regarding the fastidious records, my daughter kept a file of everything they spent, every dental and doctor appointment she made, kept and paid for, the mother would not give up the medicaid card to them to cover bills. She had a record of all the school he missed, who did all the travel to pick up and drop off the son.
And much more.
When they went to a lawyer to try to get custody, the lawyer started asking questions and my daughter pulled out her file, he started looking through it, he looked at her and said Wow, then looked at him and said she's a keeper!
OK, just a proud papa brag. :-)