You can set up a trust and if you won the lottery, you'd most certainly need a good will. An Estate/Tax Lawyer will advice you on protecting your family and the best way to set it up. We have our Will set up so our children would have needs taken care of, and they would not have any large sums of money until the last of our chilren turns 25 years of age. Reason lots, for those of you over 25...what would you have done,I would have had a nice apartment(would not have wanted a home...none of my friends had one, and didn't know where I wanted to live after college, I would have wanted a nice car...a nice economy car would not have been enough, and I'd had lots of "Friends"(who probably needed things too). So give as you want but if you teach them responisibility they will not spend so carefreely. If they need a really nice car instead of what the Trustee believes will serve the purpose, I say "Get a job, a loan, and pay it off", inheritance are for needs not wants. And when they are old enough to have learned some life lessons then they'll have some money. But they are not getting it at a young age and at times I think I should up the age to 30..lol.