Here is the example:
Sally Superstar is an intelligent 65 year old woman in good health. She is also very wealthy. Sally has two children and unfortunately both have different problems. Sally's oldest child, Gary was very much affected by all her time on the road as a performer. Sally really wasn't around when Gary was growing up and he got himself into trouble. He has an alcohol an drug problem which he says is now under control. He also does not do well with money as he likes to gamble Sally is concerned about Gary even though he is now 34. She would like to give him some of her money however she does not want him to be able to control it.
Sally's younger son, Jacob has down syndrome. The condition is pretty severe. He needs constant care. She does not wish to put him in an institution but would rather have him cared for at home She pays providers for his care and he has several types of medications that he must take as he is also a diabetic. She would like to put some money away for him so he can be cared for during his life. He is not able to control money due to his disability.
Sally also is concerned that she may have to pay some of her fortune to some creditors due to some bad investments so she needs to set something in motion as soon as possible to protect the money for her children. She also has no interest in serving as the person who controls these funds for her children as she is often out of town. She would like her friend, Cathy Caretaker to be in control of these monies as she has often helped her with her sons and has been a friend of the family for years.
Determine what would be the best vehicle to use to address Sally's concerns. Draft those documents in a form that meets our state's requirements.
I was thinking a Spend Thrift Trust for Gary (the gambler) and a Special Needs Support Trust for Jacob (down syndrome) with Cathy as the trustee. Is this the best way to go about doing this? Also, if so are there any sites that have good examples of forms that I could use???