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Reply to "Establishing lifetime trust accounts for young adult children "
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[quote=Anonymous][quote=Anonymous]You have $25 million dollars and you don't want your kids to ask you for help buying a house or a car? Wow. My dad inspected boilers for a living and my folks never had more than $600K in savings/investments, but they still gave me $15K the first (and only) time I bought a house, with my husband. What is wrong with rich people?[/quote] In my experience, it’s not that they don’t want to give their kids money, it’s that they’re worried about how giving or not giving the money will help or discourage a list of things they want their kids to do as adults. They’re often more generous if their kids don’t “need” it or they might structure the whole thing as sort of “bonuses” for graduating, marrying, having kids etc. I don’t condone that I’m just saying it’s not stinginess, it’s being controlling. [/quote]
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