<prompt> Human: I know it is a bad idea to name my minor child the beneficiary, at the same time I do not want a UTMA to dump 175k in his lap when he turns 18 or 21. And yet I doubt I can afford the legal fees to set up a trust. So...Can I write a will and have it designate how the funds are to be used if I name my ex-wife as the primary beneficiary? We have 50-50 custody, and I would want some money to go to her to continue to pay for his quality of life, and the rest to his college or whatnot.Also, if I am killed in the line of duty career firefighter there are several hundred thousand dollars of awardsgrantsscholarships that will be awarded to my direct-next-of-kin. Can a will dictate how thats used if hes a minor?Sorry if this is all confusing, its really the first time Ive dug deep and I am so overwhelmed by everything its absolutely mind boggling.  <response>: You should be able to create an estate plan for under 500. call around.You need a will, a trust, and a trustee. The trustee will be the person you trust to see to it the money is used properly for your kids benefit. You make the Trust the beneficiary of your policy.Here is how my attorney explained it. Lets say, you die when you kid is 15 years old. Lets say your kid goes to college and is doing really well. You would want the trustee to use the money to pay for college right away. Lets say your kid kills someone in a car accident and gets sued. The trust funds can be withheld to prevent the plaintiff from collecting. Maybe the kid is not mature to have a bunch of money. The trustee can put the kid on a reasonable allowance. You wont be there to make a parenting decision.Whoever you make the beneficiary of your insurance, the money will belong to them and they can do whatever they want with it.FYI - I am not an attorney, you should see one and follow their advice. 