It is very rare for parents to choose to hand a child the inheritance at eighteen. I am the exception. I named my daughter successor trustee and guardian for her younger sibling at eighteen, because I knew she had her head on straight. But other clients tell me their child is not ready at twenty-five, and they are right too. Every kid is different. That is why every plan is.
What I Said
From my September 10 Parents Edition workshop at the Cambria Hotel in Calabasas, lightly edited for readability.
That's why the idea of your kid receiving inheritance at the age of 18, it is very rare when parents choose to do so. I'm that exception, because my daughter is amazing, and I knew that she has her mind set right, and I appointed her as my successor trustee, as a guardian for my younger kids. At the age of 18, I knew she would do the right thing.
But it's not always the fact, because sometimes my clients, they say, "Hey, I don't think my child is ready at the age of 25." Because every kid is different. That's why every family is different.
The full talk, written down: Who Picks Up Your Child From School if You Never Come Home?
More on this topic: Living Trusts
More From the Workshop
- Left Directly to a Minor, It Sits Until 18. And Anyone Can Raise a Hand.
- Help Your Children. Do Not Sponsor Them.
- The Documents, in 26 Seconds
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