You're thinking of setting up an educational trust for your grandchildren. You know that you can put age limits on it, preventing the children from using it until they turn 18. You also know that you can limit it so that the money can only go toward their education.
When your estate goes through probate, it gets divided among your heirs and other beneficiaries. This process is long and complicated for some people, while it is relatively easy and straightforward for others.
There are many positive reasons to use an incentive trust. You can encourage your heirs to be successful, for instance, and you can ensure that they only get the money when they are mature and responsible enough to handle it.