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slash SmartVester. Jill is with us. Jill is in Dallas. Hi, Jill. How are you?

Hi, I'm good. How are you doing? Better than I deserve. What's up?

I have a question about a trust. I've heard you say a couple different things, and I was just

curious what you would do in that situation. Okay. I've heard you say maybe an LLC or if you're

raising smart kids, then you don't necessarily need a trust, but I have minors, and I'm just curious

what I should do. I have a house, but I have minors, and I'm just curious what I should do. I have a house,

and I have a house that is paid for, and then I have some mutual funds and my IRAs and stuff

like that. Okay. And so your net worth is a million or so? It's close to $4 million. Oh, good for you.

Well done. Very well done. Okay.

What we did when we were at your stage and we had minor children was we set up a will and the will.

I'm sorry? I'm sorry, I should also add. I'm divorced. So my kids are taken care of in the form, in the fashion that they will go to their dad if something happened to me I just want to take care of my stuff for them okay yeah that's

fine so you can do the exact same thing then so the actual guardian would be your X but the part

but then what do we do with your stuff if you die while they're minors?

So what we had set up on ours were minors was the trust is formed upon death.

And it's just a children's trust, very simply, Jill's kids, and that's the trust, and whatever.

You call it, whatever you want call it.

But it's a children's trust while they're minors. And all of your assets are dumped into that trust.

And then you leave instructions to the trustee of how you want those assets handled.

I'll give you a couple of things we did.

And you could choose to add those or not add those.

Okay.

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