One possibility would be to put your money in a trust for your own (and eventually your daughter's) benefit and make the trustee some financial institution. Set the trust up so that it pays you a fixed income, and then upon your death have that go to your daughter.
I'm not an expert on trusts, but if you want to let go of the financial reins, then you'll either have to give them to your daughter or some third party. The 3rd party might be preferable since she's young.
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