Will Now, Trust Later

[jackd]

What is the name of your state (only U.S. law)? Illinois
My wife and I have a last will and testament. We are thinking of revising it for one beneficiary, my sister, that is very irresponsible. She blew thru $250K inheritance in 2 years, now on welfare and has a very poor work ethic. We would like all the beneficiaries to receive their share of the estate and the executor, her brother, to form a Incentive Trust for her share. She would simply have to show the executor proof of employment and then receive matching funds from the Trust. Of course we would include a statement where she could get some funds for special situations or hardships proven to the executor.
The reason for not going to a Trust now is things may change and also the Trust would be much smaller and simpler after everyone else receives there share.

Any advice?
Thanks

 

[seniorjudge]

Double post warning

Answers here:

https://forum.freeadvice.com/wills-trusts-estate-planning-113/will-now-trust-later-424356.html

 

[Dandy Don]

That is what certified estate planners are for. And surely you are leaving her proportionately less than what the other beneficiaries are getting in view of her extreme financial irresponsibility.

 

[jackd]

No, we plan on equally dividing the estate less her personal debt with us. In fact I thought her cut would come from the sale of assets and not a portion of my 403b. The 403b would go direct and not be able to regulate.