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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]OP I’m an adult child and I really only know details about assets that are already outside of my parents estates. So that’s a few trusts where I’m already a beneficiary, but don’t have control. The assets that are still theirs aren’t really good for planning because anything could happen and I hope they’ll live a really long time! I could be retired myself before my parents pass away. So I think straight inheritance affecting life planning is really a grand generation thing. Or it’s because of tragic early deaths. What they’ve been way more clear about and what is crucial for planning is knowing about gifts during their lifetime - college tuition, grad school tuition and support, housing support, annual gifts, grandkids tuition, anything like that that you plan to do. [/quote]
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