One way to potentially avoid this anger or confusion is to sit down and have a frank discussion with your teen.
Talk to them about the following issues:
- The amount of money that he or she is to inherit (you may also ballpark this figure)
- The age you feel is appropriate for the inheritance (i.e., 21 or 25 years old, etc.)
- The age that the teen feels is appropriate
- How you want the money to be spent, for example on college or the down payment on a house
- Whether there are other stipulations besides age for receiving the money. For example, you can set it up so that the teen can receive the money at any age, as long as he or she has graduated from college.
Doing what you can to eliminate secrets or surprises from your estate plan can not only bring your family together while you are still living, but it can make the grieving process easier for your kids after you are gone.
Let Carolina Family Estate Planning help you with these decisions. Start by registering for an upcoming seminar or call us today at 919-443-3035 to schedule a Vision Meeting.
