Have an indigent Daughter I would like to insure provision for when my DW and I die.
I heard an idea from Clark once about establishing a “Dole Out” from one’s existing portfolio instead of buying an annuity. He suggested establishing a Trustee relationship with Vanguard to accomplish this. If she dies before the portfolio is exhausted the remainder can go to her brother.
This makes a lot of sense to me. Has anyone used Vanguards Trustee Services?
It is good that you will have assets to pass on. Start with an estate planning attorney. They will set up at trust to provide initially for your daughter with remainder to your son according to your wishes.
One of the provisions of the trust will be for a Trustee to carry out the provisions of the trust and distribute the assets to the beneficiaries. The trustee can be an individual, the trust department of a financial company like Vanguard or a bank’s trust department.
Speak to a competent estate planning attorney first.