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Money and Finances
Reply to "Estate Planning ~ Ages and Stages"
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[quote=Anonymous][quote=Anonymous]If they aren’t responsible at 30 they aren’t going to be responsible at 35 or 40. [/quote] True, but this ignores the question of disincentivizing the heirs. If they know they'll receive substantial assets earlier in life, will that deter them from pursuing their own wealth through challenging and meaningful employment or entrepreneurship, simply marking time until an expected windfall? Even an otherwise responsible person may reasonably be less motivated to pursue professional success and accomplishment, if that matters to your and your values, if they know they need not plan for their own long-term financial security. Many trusts are designed not to provide for complete financial independence at an early age, but to meter distributions to just make heirs' lives more comfortable and secure, without being a total substitute for the heirs' own efforts, drive, and ambitions. [/quote]
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