Thanks all. Kelsmom, I agree it’s important that it’s revocable, and that’s why I’m probably not going to argue too strongly against doing things the way my wife’s family always does things for now…
That said, BellknapPoint, I also don’t understand the point of all of this for our situation…others in my wife’s family are more prosperous and used to doing whatever this advisor says, but I feel like this is just a default recommendation based on what her siblings are doing…
And Blossom, yes, we do have both a first and back-up executor, and in part because my wife has strong (and unpopular with the advisor) feelings about that and isn’t focused on the financial aid angle, I feel that’s kind of falling by the wayside…More generally, though, I think we’re financially fine…Aside from the advisor, we’re Boglehead max out our 401ks for 25 year types and we’re in VA, and so even if we don’t qualify for aid there’s plenty of great public schools here so it’s also possible I’m making a mountain out of a molehill…