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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]Good question! We raised them talking about getting a good education and saving money and they actually listened. It wasn’t until they were married with good careers that we started educating them about our estate plans. They have a rough estimate about the value of the trusts we have set up but the trusts are also to benefit their children and maybe grandchildren. They won’t benefit from the trusts until we are gone and they seem to want us to live forever so they don’t build it into their retirement plans except they do know it’s there. Over the last two years we have gifted them a lot of money outside the trusts because they are very responsible and can handle it. We are blessed with very responsible children which has made this process pretty easy. [/quote]
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