Page 46 - Ultimate Guide to Estate Planning Third Edition_Neat

Chapter 7. The Stages of Life.

There are, definitely, stages in the lives of our
loved ones. Some of those stages roughly
correlate to age. However, distributing wealth
at 25, 30 and 35 may not necessarily be
consistent with your objectives. I believe that
distributing wealth to the next generation
should be like the lawn sprinkler system you
use to keep your grass healthy and green. The
sprinkler turns on at regular times based upon
conditions that you’ve pre-determined. The
system turns the water off if there has been too
much rain and the water will be wasted. There
are sensors that make this determination
regarding the amount of precipitation so that
the sprinkler automatically turns off when
precipitation is high. You don’t need to be at
home to physically turn the water on and off.
Likewise, we have the ability to turn on the
wealth, to keep our heirs nourished, and to
turn it off when it’s dangerous to overwater.

It is useful to review each of these stages prior
to discussing the distributions phase.

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