Inheritance Money: Protecting Your Children from Themselves
Estate Planning is an opportunity to provide security for your family’s future in a way that is unique to you and your children. For some parents, the priority might be to protect their children from themselves. Some examples are:
- securing a stable future for kids that do not use sound financial judgment,
- preventing a child with addiction issues access to a large sum of money that could be used to feed harmful habits,
- providing special care for children dealing with mental illness, or
- naming guardians for your minor children.
All of these decisions can be addressed by thoughtful Estate Planning.
Related Article: Learn About Estate Planning Options
Below is a table sharing some of the most common concerns clients share with us regarding protecting their children's inheritance from themselves and the ways in which a thoughtful Estate Plan can address these concerns.
How A Thoughtful Estate Plan Can Protect Your Children From Themselves
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Concerns |
Wishes |
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Minor children and Young Adults |
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Spendthrift |
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Substance abuse and addiction |
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Estate Planning is often giving your family member what they need and not what they want. You will be able to name Guardians for your minor children, have a Trustee manage distributions from a Trust, protect inheritances from creditors and predators, and secure a financially sound future. Proper Estate Planning can be a beneficial tool used to manage all of your concerns regarding your family’s future.
