Reply to Establishing lifetime trust accounts for young adult children

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[quote=Anonymous]Question on financial planning for your children.

We have 529s etc fully funded - so college and any grad school will be fully funded with no student loans. Have 3 kids (oldest age 16) and we have about $25m liquid/savings in various investment accounts. We are both still working and make generally high W-2 incomes.

Talking to planners next week but wondering if it makes sense for kids to start to get some trust distributions when they turn 21 ($3-5k/month) - to help them become independent/manage their own money/so they can choose careers they are passionate about/full recognition of no lump sum coming late in life. They would also know they can’t come to us for money otherwise.

Has anyone done this? I’ve heard horror stories of parents who have college graduates who continue to come to them for help during their 20s for leases, house down payments, car purchases, you name it. I definitely don’t want to do any of that and want them to stand on their own 2 feet but recognize that we do have resources and it might be better to share with them now than at some future point after we pass away. Especially given inflation is likely to remain and be persistent for decades, while the cost of everything just continues to go up (and wages don’t seem to be).

Has anyone structured something similar (or been the recipient of something similar)? How has it worked out?[/quote]

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