09-15-2015, 06:47 PM
He probably means setting it up in a trust that limits their access to the full sum of the estate all at one time. That way the kids are taken care of, but they hopefully don't grow up to be assholes who never learn the value of money.
I've not set anything up yet, but that's how I'm going to do it. Make sure college is handled, set different tranches for the money to be disbursed by age (30, 40, 50) or something. By stretching it out, they have to work and not just do something dumb with a lot of money.
I've not set anything up yet, but that's how I'm going to do it. Make sure college is handled, set different tranches for the money to be disbursed by age (30, 40, 50) or something. By stretching it out, they have to work and not just do something dumb with a lot of money.