Had my first kid this month. Currently working with my lawyer to put together an IDGT for the baby. I plan to use the trust to gift her shares in the family business each year. These shares will generate dividends that will then be reinvested in index funds for her benefit as an adult.
My spouse and I are interested in ways to set the trust up in such a way that it will enhance our daughter's life without completely destroying her ambition. E.g. we intend to include language in the trust that will allow for a dollar-for-dollar match for any IRA/401k contributions she makes when she's older, so as to incentivize her to have a career and manage her finances wisely.
I'm curious how others in this sub have designed their children's trusts and if there are any out-of-the-ordinary details you've included in your trusts that we may want to consider as we design ours. Thanks in advance.