Reply to Teenager about to inherit money outside a trust

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[quote=Anonymous][quote=Anonymous]If the relative dies before the kid is 18, you can set up a trust as the parent.

[b]If your kid is 18, let them have the money.   If your kid fails and spends it all, consider it a very expensive lesson from the school of hard knocks.  [/b]

Don't do anything controlling for slimy to control your adult child.  The operative word is "adult".  He will be an adult and he has to have the choice and opportunity to make mistakes, even big ones.[/quote]

Stupid advice. I’ve only heard losers spout this philosophy, and I’m not sure I’ve used that word…since middle school? Still, I stand by the term loser. The parents I know who had this philosophy ruined their child’s life, and I judge them harshly for it.

Of course you get that money in a trust, no matter what. Kid gets 33% at 25, 50% at 30, and 100% at 35, or whatever. *Then* you let the kid blow through it. They probably waste what they inherit at 25, but will have two more chances to learn their lessons. If they can’t make a decent decision at 35 or 40 or whatever, then you let them learn from the school of hard knocks. Not at 18 ffs![/quote]

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