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Reply to "When do you tell kids about family money?"
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[quote=Anonymous]I’m 40 and my parents have been pretty open about their estate plans. My siblings and our children will all benefit in many ways. My parents are very generous with us now but we really just invest it for our retirement, not to subsidize a lifestyle we can’t afford on our own. My dad wrote us all a letter detailing how he hopes we deal with their generosity and it’s a really good roadmap. They have set up trusts for us and our children that are fully funded and when they pass the remainder of their estate will go to a charitable foundation that my siblings will oversee. I hate talking about it with my parents because it’s estate planning! [/quote]
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