When dealing with inheritances, especially those of a large sum, it is important to be incredibly specific with how you wish for those funds to be handled. This is best accomplished by crafting a detailed document (whether a trust or a will) that will outline exactly how you want these funds to be managed completely.
You can indicate at what age you would like the children to have access to the money and even indicate how you would like them to use the money (X amount for college, a home, a car, etc.). The language used in these documents will ultimately determine how well your wishes are carried out. To ensure that all the finer details are considered, you would need to consult the expertise of seasoned estate attorney.
It sounds like the legal services we offer atcould help you. Because of the complexity of your situation (the fact that you don’t want the children’s parents involved and that you worry about how the children will manage the money once received) it is best that you seek the assistance of a professional. We would be happy to help you. The attorneys on our site offer legal assistance that is tailored to your specific situation. Contact us for more information. We offer 24/7 support, transparent flat-fee pricing, and a satisfaction guarantee.