How can life insurance money be left to child's potential guardians in a manner of our choosing?
For example, five percent to the new guardians up front, just because. Twenty percent into a college fund. Twenty percent to be given to the child upon reaching the age of 21. The rest to be doled out evenly, on a monthly basis to the guardians, for providing necessities.
First of all, is it possible to dictate any rules like this? Second of all, is there any advice on specific ways that might be better than the one I stated above?
Thanks for the advice.