Trusts can avoid many of the disadvantages of the various approaches discussed thus far.
A trust is created by a settlor - the parents, or others. The trustee plays a very important role in this scenario. The hope is that the trustee will be around to administer the trust for the duration of the beneficiary's life. Therefore, it is important that the trustee not be significantly older than the beneficiary or, if they are, that a younger successor trustee is named. The trustee should be someone who knows the beneficiary, understands his or her needs, and in whom the parents have considerable faith.