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

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[quote=Anonymous]I'm a grateful adult child, but fwiw I don't think money is a good way to control your adult children. We've set up our own estate plan to include as few strings as possible, really just some safeguards against young adults in full crisis.

If my kids want to take the family fortune and spend it all on hookers and blow, that's really up to them. If my kids want to spend the family fortune on hookers and blow and they're just stymied by some trustee I've put in place? That doesn't sound better to me. In some ways it sounds worse.

I'm especially adamant about not trying to control the things that happen after my death. I'll let you know how it works out, lol.

It's weird to me how I have relatives who will go ON AND ON about how government assistance makes people soft and reliant and discourages bootstrapping and this and that, and then they set up trusts that are the much cushier version of the same thing.

If my adult children squander the family fortune, it will go back out into the world and maybe end up with someone more worthy. A hooker with a heart of gold. A skillful entreprenuerial phone scammer. Etc. [/quote]

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