Do You Trust Your Kids With Their Inheritance?

By Patricia Louise Nelson of Two Spruce Law

            Many of my clients come to me with a plan to leave assets to fairly young people, say people in their mid-twenties. When I ask these clients whether they trust these young people with their inheritances, the answer is often “yes!” I like to probe just a bit further to be sure the answer takes into account the likely context of the inheritance.  For example, many people leave assets to certain family members and only if those family members are dead, do the assets go to the next generation – the mid-twenty-year-olds.  Having a parent die is a very life altering event. When we take into consideration the fact that these young beneficiaries have had a parent die, do you still trust these young beneficiaries with their inheritances?

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