Page 75 - Ultimate Guide to Estate Planning Third Edition_Neat

rules, two hundred thousand dollars is enough
to wreck a kid at eighteen. That's enough to be
a gateway into a lifestyle involving cocaine or
alcohol or just behavior that's not consistent
with what you want.

If you have five children and your wealth is two
hundred thousand dollars, then maybe you're
okay without planning. Most peoples' lives
would not be completely changed long term if
somebody dropped forty thousand dollars on
them. They might not spend it in the best way
though. They may spend it and blow it and
then look at their siblings and say, "Well, they
didn't blow it. They bought a house. That house
has appreciated in value and they're doing
really well. Every time I see them, I'm reminded
of my failure to use the money prudently and I
don't want to see my sibling anymore. It
reminds me of how I screwed up." This is a real
thing that people sometimes don't think about.
It really depends on the recipient of the wealth,
how many recipients and would it
fundamentally change who the heirs are or
become.

74