Trusts

I would like to set up a trust that would leave everything to my grandchildren(ages 4 and 6) in my will. What is the legal age in the state of Illinois that they would have access to the trust without their parents being able to interfer or take it from them? Could I set it up so they could have access at the age of 18?

You could but "too much, too soon", can wreck drive and motivation and create disfunctional adults.

Isn't age 18 far too young for absoute access to substantial assets? As many parents and grandparents know, too many kids do wierd things at age 18 including booze, drugs, cults, etc. Do you want to risk having your money going to the moonies or Hare Krishnas?

A better idea would be leave it in trust with their access to the money restricted until they reach 21 at which point they get 1/3, at age 25 an additional 1/3rd and at 30 or later the rest, subject to the discretion of the trustee to make earlier distributions and also with an automatic accelleration to reward them for meeting some objectives you set -- such as graduating at the top 10% of the class from high school frees up 10%, getting top grades at good college, 10% more, college graduation with good grades, 10%.

Make sure the discretion is exercised by a trustee who likely will be sensitive to the kids' needs (THAT MEANS NOT A BANK) and maturity and leave the investment management to a bank or broker.