Will/children/Joint tenants or Tenants in Common

getmore4less

You have to add to the terms of the trust what you want to happen under various conditions and what events would terminate the trust(death is the obvious one but there can be others) 
They are actually call "Interest in possession" trusts
for the first death with the trust setup by a will "IPDI trust" is the term to google.

AnotherJoe

castle96 said:

"trust"... yes a wonderful thing, but new circumstances take over. Any views please

Its a trade off. theres trust in the kids as well. suppose something happens that means the survivor no longer wish to leave the money to one or more of them, and nor would the one who died,  in retrospect.

Or suppose you wished to leave it to grandkids because parents became spendthrifts?Or yu developed a horrible illness that needed expensive care/. Or a dozen other possibilties.

vs one of marrying a golddigger AND not setting your new will appropriately