When helping hurts: inheritance
June 19, 2018
I’m Miriam Neff-with STARTING OVER FINANCIALLY,-and I’m Valerie Neff Hogan, and we’re here to talk about money
M We recommend every person have a will and probably a trust. What parent or grandparent does not want to bless their children with a ‘legacy’ gift after they’ve gone to heaven.
V If you have not made special designations, when you leave this planet, your wealth might go to your relatives. A minor won’t receive the money, but their guardian has control–until that child is 18. What 18 year old do you know that is able to make wise decisions with large sums of money? Did you at 18? Creating a trust that releases funds in smaller amounts or for specified needs is a better way to help without hurting that young adult.
M Plan well so that gift is a blessing.