Page 56 - Ultimate Guide to Estate Planning Third Edition_Neat

perpetuating something of importance to you?
Wouldn’t you rather transfer wealth to them
that says “I care enough about you to have
given significant thought as to how this gift of
money might impact your life positively or
negatively.”

Statistically, the children are not going to see a
lot of their inheritance remaining in their
thirties, after having received lump sum
distributions in their young adult life. How will
they regard you when they are older, with
respect to you having given them too much
wealth, too soon? Will they begrudge an early
inheritance in their later years? You can look
at the studies of lottery winners and how they
handle unbridled access to lottery winnings.
They normally don't end up with a whole lot of
money after ten years. You think they might
have regrets? After all, that’s why the estate
planning industry has the staggered
distributions-to enhance the prospect of
financial maturity by the heirs. By giving your
wealth to the next generation, are you creating
a cycle of generating regrets?

You should think carefully about giving those
distributions based on age.

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