Seriously consider lifetime trust shares for your children. This protects the assets they inherit from creditors, divorcing spouses, spendthrift behavior, and addictions.

Like a treasure chest, your child has the key to the trust assets held in a trust, for his or her health, education, and maintenance. Your childs creditors and divorcing spouses dont have a key to the treasure chest.

Here are the Basic Considerations for Passing Inheritances in Trust

Create a common trust until your youngest child is age 23 or has graduated from college; whichever comes first. A common trust provides for your childrens needs, without equalization for each child.
When the common trust ends, have assets flow into lifetime individual trust shares for your children. Dont ever force assets out of trust at certain ages or at certain time. No distributions at 5, 10, and 15 years; no distributions at ages 30, 35, and 40. If assets are forced out, they may fall prey to creditors, divorcing spouses, spendthrift behavior, and addictions.
Know that your children always have access to trust assets for their health, education, and maintenance. Consider whether protecting your children and the assets are worth a little bit of paperwork.
Never name your child to serve alone as his or her own trustee. First, minor children cant serve as trustee; second, adult children should serve with a co-trustee to gain all those trust benefits. Your child can have the ability to choose the trustee such as a CPA, bank, or trust company.

Consult with a qualified estate planning attorney to discuss how to pass your assets to your children. Be sure to ask about lifetime trusts