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Reply to "Teenager about to inherit money outside a trust"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Op, stop with the idea that you will/should financially manage - what will be, an adult. In 2 years from now. A short amount of time. [/quote] Seriously? Your will just hands the inheritance over to your kids in a lump sum, no matter what age they are? My kids are level-headed and not at all materialistic, and they'll still get percentages on milestone birthdays. [/quote] Np, why is the kid not allowed to make mistakes? Maybe dc wil surprise op and see it as a new beginning. If no strings attached why attach strings? [/quote] Kids are allowed to make mistakes. But for most people, including this 18yo, a lump sum of 100K is a huge amount. It would be stupid to let them "make mistakes" and blow thru this money. It could be a life changing amount if used properly. OP description of their son is that he's immature, so likely not really "age 18" mentally (most ADHD, many boys are not as mature as their age indicates for the decision making process) They do stupid stuff. Age 18 isn't the magical number where someone automatically becomes responsible. So instead let them learn with $2-3K and see what they do with it. If kid was 17 nobody would think twice about parent having some control/guidance. The switch doesn't automatically flip to full adult at 18 [/quote]
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