Should I set up a trust to control when my children inherit money?

For most parents of minors, yes. Without a trust, any inheritance a child receives is handed to them outright at 18, an age when few can manage a large sum wisely. A trust lets you delay and stagger access, for example distributing portions at 25, 30, and 35, or leaving it to the trustee's discretion for education, health, and living needs. You can protect the money from a child's future divorce, creditors, or poor decisions, and ensure it's used as you intend. A single trust can cover all your children with instructions to spend based on each child's needs. This trust can be created within your will (a testamentary trust) or as a standalone living trust. Discuss the structure with an estate attorney.