Reply to Are your adult children grateful for their trust funds?

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[quote=Anonymous][quote=Anonymous]Rather than giving them trust funds, you could fully fund their education, including living expenses, through a particular degree or age, buy them their first car, pay for their wedding, chip in on a house downpayment, pay for big family vacations that everyone will enjoy, fund your grandchildren's 529 plans and perhaps offer to pay for your grandchildren's private school and sports.  I've seen this approach work very nicely for an extended family member.  All of their kids had an excellent education and went on to have meaningful careers; so far, they are still in first marriages and have many grandchildren.  The family is close, perhaps partly because they go on at least one fabulous vacation per year (think Caribbean resort, giant ski mansion on the slopes, etc.).   The difference here is that they never created a codependent financial relationship.  They promised them an education, a car, and a wedding.  Everything else along the way has been a surprise.   [/quote]
This is essentially what we are doing.  Kids always went to private schools, paid for college, bought first car, have always travelled extensively, etc.  However, even with that there will is money left that will probably need to be put into a trust fund.  It's not always either or.[/quote]

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