You have a friend over. You give your friend a bag of dog food to feed the dog for you, while you prepare dinner for the two of you. Your friend accepts the dog food and the instruction to feed the dog, and goes about giving the dog his food. You have a trust going.
You are the creator of the trust to feed the dog. Your friend is the trustee who accepts the dog food and the instruction to feed the dog. The dog is the beneficiary.
Get a knowledgeable friend or attorney to prepare trust paperwork for you. You can study about trusts and contracts and do it yourself.
1. Have a friend actually create the trust by giving you a silver dollar to hold in trust for your kids.
2. You are the trustee.
3. Make the trust so that it can accept donations, and donate the wallet (and other property, including the house - better to make separate trusts for each major item) to the trust.
4. Include instructions about how you would like the wallet and keys and bitcoins divided among the children.
5. Set the information up in private in such a way that only the trustee has access to the keys.
6. Make one of the kids to be the successor trustee... to take over the trust in the event that something happens to you. Do this formally, with acceptance paperwork by the kid. This could include any major reason that you could no longer function as trustee... not only death. If the kids are too young, perhaps a trusted friend, or even the wife or husband.
7. Make sure that all the kids have a copy of the trust so that they can hold the successor trustee responsible in court if the successor doesn't follow the instructions in the trust.
Make any reasonable instructions, right in the trust, about how you would want things to be handled in the event of your removal as trustee.
Trust creator = friend or attorney, or even spouse, who gives you the original silver dollar.
Trustee = you.
Beneficiaries = the kids or anyone, even a company or church or anyone else.
Successor trustee = one of the kids, who is also beneficiary, so that the property in trust can be dispersed to all.
The point of a trust? It can be set up in ways so that the property can go right on being held in trust after you are out of the picture. Thus, there is no transfer of any property... only change of trustee. The government and courts can stay entirely out of the picture as long as the kids are honorable and trustworthy among themselves.
No probate, or even knowledge that the property changed hands, because it didn't, necessarily.
Notarize all documents.
