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Reply to "Children Inheriting Large Sums of Money"
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[quote=Anonymous]When my parents died I was able to disclaim my inheritance and have it go directly to my kids with each receiving around $500,000. They are all married young adults with their heads nicely screwed on so I had no fear they were going to blow it and they haven't. If they had been screw ups I never would have done it. At some point they will inherit a lot from us, likely far more than they could imagine, and that could change their lives but hopefully it's many years away at which point they have their own nest eggs. We are very generous with our annual gifts to them and their children (including 529 plans) so it's not like we are not sharing in the bounty. I have a brother who has four adult children one of whom has had his struggles. For that one he has set up a trust that will pay out a fair amount each year so he can't blow the whole thing while the others will receive their inheritance in a lump sum. [/quote]
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