In the end, we all want what’s best for our children.
I offered the following in short: We find a house for the children and her to live in. The house title is in the name of an irrevocable trust in the children’s name.
I pay the mortgage on a house for the first 10 years only. After that, it’s her or children’s responsibility. If the property is ever sold, i stop payments and all profits from the sale go into the irrevocable trust.
It’s an investment. Not for her, but my children. Whenever the house is sold, whether next year or 20 years from now, the money goes into a trust that isn’t accessible by anyone except the children if they are over a certain age (like over 35). And i control how the money is invested or distributed in the meantime.
Do you see any flaw in this logic and or the idea?
I don’t think location is relevant here, but this is Georgia, USA.
ANY help would be really appreciated.
[–]slobarnuts 1 point2 points3 points (0 children) | Copy Link
[–]SkeptiCynical 1 point2 points3 points (0 children) | Copy Link
[–]SkeptiCynical 0 points1 point2 points (0 children) | Copy Link