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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You raised your kids to be ungrateful.  I know plenty of families living off accumulated wealth of prior generations that are perfectly humble and grateful people.[/quote]

+1. Seems this way to me as well.

Also giving the kids access to trusts in their twenties was probably a mistake. I grew up well off and am privileged to have come from generational wealth. My parents were very generous with helping me in my twenties, but there was no access to a huge trust fund. My siblings and I learned to be grateful for their help and to cover as much of our living expenses as possible independently.

Also, are you (the parents) hard working or also beneficiaries of generational wealth? While one of my parents comes from a wealthy family, both of my parents worked very hard in their careers until they retired and they’ve always lived modestly but given generously. They set a good example growing up. On the flip side, I know many people I grew up with who came from family money- their parents lived high on the hog despite not having real careers, and now there is not much left for their kids and grandkids. [/quote]

I’ve read so many times on DCUM that people think that giving funds to descendants when they’re younger (20s and 30s) would have helped so much more in their lives than getting it all those years later. But I guess you run the risk of having entitled kids. [/quote]

My family paid for my college education, would have funded grad school had I gone, paid for my wedding and gave me and my siblings access to a lump sum amount of money that most of used for down payments on our first homes. They helped with rent after college until I was paid well enough not to need the help. They helped a lot in my twenties in all those ways. A huge headstart, but not an ongoing trust fund where I’d never need to work. This setup also depends on the parents though - parents who are willing to help but who are not controlling overall. [/quote]

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