quotidiane
Junior Member
What is the name of your state? New York State
I would like to create a trust fund for my girlfriend. We do not intend to marry and I want to be sure that she is financially supported in the event of my death. I have named her in my will, but am concerned that my children could challenge the will and hold up payment to her for years. I also wish to minimize taxes. Ideally, I would like to set up a fund with a significant principal that would be invested now, and would pay out a stipend in the event of death. If something should happen to her, I would like the principal to be redirected to my children. What are the tax implications of setting up such a fund?
I would like to create a trust fund for my girlfriend. We do not intend to marry and I want to be sure that she is financially supported in the event of my death. I have named her in my will, but am concerned that my children could challenge the will and hold up payment to her for years. I also wish to minimize taxes. Ideally, I would like to set up a fund with a significant principal that would be invested now, and would pay out a stipend in the event of death. If something should happen to her, I would like the principal to be redirected to my children. What are the tax implications of setting up such a fund?
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