[MrB]

I’d be interested to hear others’ hypothetical plans...

Trustees are notoriously untrustworthy, especially if it is a financial institution. Their goals seem to be “spend it down to nothing as quickly as possible”.

So, some sort of perpetual entity would be necessary, with dividends paid to heirs, but not too much at once. I’d set aside some for the first generation, second, third, etc.

[a fool in paradise]

Even if your payments are annual, aren’t there firms now that leverage against that (buy your check out for a lower rate) whether it is an insurance payout or a lottery winning?

[wideawake]

Trustees are notoriously untrustworthy, especially if it is a financial institution. Their goals seem to be “spend it down to nothing as quickly as possible”.

That's nonsense.

Trustees get paid fees based on a percentage of the assets they are holding.

They are incentivized to avoid allowing a trust to be "spent down to nothing" by its beneficiaries.

If anything, they are incentivized to reinvest the trust and make it grow while doing their best to minimize withdrawals from the beneficiaries.

[Lurking Libertarian]

I’d set aside some for the first generation, second, third, etc.

Anything past the second generation is legally unenforceable, under the rule against perpetuities. The only exception is for charitable foundations.