4 Decisions When Your Child Can’t Handle Money

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Sometimes parents feel forced to leave their child's inheritance to a trust. Maybe they just feel that the child can't handle a lump sum inheritance. Or perhaps the parents feel that their child's spouse will influence their child to spend the inheritance inappropriately. Or sometimes children have addiction issues, and leaving them a big chunk of money could cause addiction issues to surface again.

For whatever reason, many parents know that it would be inappropriate to leave their adult children a lump sum all at once. So, what do you do?

You leave their inheritance to a trust. But when you do that, there are a number of decisions that you must make when establishing a trust for a child's inheritance.

Who will be the trustee or co-trustees? Can the child be the income beneficiary, entitled to all trust income on a regular basis? When can the child (also known as the trust "beneficiary") receive trust principal?

An inheritance is unearned and often underappreciated. Sometimes it is necessary for parents to put limitations on their children or heirs.

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This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais
Estate Planning Attorney

Видео 4 Decisions When Your Child Can’t Handle Money канала Rabalais Estate Planning, LLC