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Eldercare
Reply to "Parents being flippant about inheritance - is it a trend?"
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[quote=Anonymous]My parents are very generous and they have been very thoughtful about inheritance. They have both set up well funded irrevocable generation skipping trusts whereby my siblings and I will benefit from the trust income but the principal will eventually go to their grandchildren with age and other restrictions. Along with my siblings, my mother is a beneficiary of my fathers trust (and he of hers) so that if their non trust assets run out she will have plenty of money to live on. My siblings and I are all in our mid to late 30’s and doing very well on our own and I think that has led to my parents being very open about their planning which hopefully will be well well off in the future. When my father’s parents died he elected to not receive his inheritance and instead had it go directly to his children. It wasn’t a lot of money but he knew that we would benefit from it far more than he would. [/quote]
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