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Reply to "Are your adult children grateful for their trust funds?"
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[quote=Anonymous][quote=Anonymous]Not only are my kids ungrateful about their trusts, but they also trash the yacht and never park the Bugatti in the correct parking garage. Complete ingrates! On a serious note...I do think the example set by the parents is important. Have cousins who had fairly large trusts established for them that they could access at 21 (around $10MM each in the 1990s). The grandfather made all the money and set up a trust for the dad who basically never worked. Well, one of the cousins blew all the money and the other blew most of it. Neither worked a career, just a series of lifestyle jobs. They both managed to marry OK, but live pretty MC lifestyles.[/quote] Monkey see monkey do Whereas if they had a dad who worked in a career they loved while enjoying the perks of the trust, they might be different kids and have successfully utilized the trust fund [/quote]
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