Page 39 - Ultimate Guide to Estate Planning

Lump Sum Distributions.
What we see even more, though, are lump sum
distributions that occur upon the passing. I
personally believe my industry is stale in the

lack of creativity offered to those planning their
estate. The estate planning industry seems to
encourage and recommend, almost universally,
that children (and grandchildren should the

child predecease them) receive the funds when
they're 25, 30, and 35. "Well, we're not going to
give it all to them upon our passing because
they might not be in the best situation to
handle the funds.” The concern is that they are
not ready to receive funds; from a financial

maturation standpoint. This is an example of
estate planning lawyers in Minnesota trying to
be “really smart” and “creative” (all satire
intended) about avoiding financial waste in
lump sum distributions; give heirs 1/3 at 25,

1/3 at 30, and 1/3 at 35! Apparently, we are
just going to assume that they're going to be
mature at those ages.

Do you know anyone who has given substantial
sums to their children or grandchildren simply

because they attained the age of 25, 30 or 35?
I’ve never met anyone who has provided
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