so let's say i inherit $300,000.00 from a relative and I don't really need the money (just hypothetically), a few questions...

1. if i want to leave the bulk of it to my future kids, is this the right vehicle?
2. what are the pros and cons?
3. can i choose to invest it all in index funds for the next 100 years?
4. who are my choices for trustees? (i hate banks)
5.can i draw any income from it?
6. how much will it cost annually to administer?

I went to the Fidelity site and they weren't much help. I'm hoping the great minds in this forum can enlighten me.

Jen

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Jennifer
90 350sdl

The best thing I could recommend would be to get a referral from your local municipal bar association for a free or low cost consultation with an attorney specializing in estates/trusts and maybe taxation as well. If that fails, or in addition to, contact the nearest law school in your state and talk to the professors teaching these courses. They will steer you in the right direction. The topic is rather complicated and I don't think anyone on line will consult or give advice to you about what to do, even if well versed. Although your questions might be answered, the answers might still lead you in the wrong direction.

The rule against perpetuities is one of the most often screwed up things in law. The general rule is lives in being plus 21 years but most states have a variation on it, 30 years I think. So find a good estate planning lawyer.