Anonymous
06/11/2024 10:54
Subject: Teenager about to inherit money outside a trust
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Op, stop with the idea that you will/should financially manage - what will be, an adult.
In 2 years from now. A short amount of time.
Seriously? Your will just hands the inheritance over to your kids in a lump sum, no matter what age they are?
My kids are level-headed and not at all materialistic, and they'll still get percentages on milestone birthdays.
DP
This is not OP's will. My will has ages, but I know I cannot control other people's wills. And to try to control other people's dying wishes is very manipulative.
Let’s not get dramatic here. The OP is trying to influence, not control, how a relatively small (though large to a teenager) amount of money is transferred to his own child. It’s not some forgotten Roy child coming in and trying to get a controlling share of Waystar Royco.
Heh. My thought was David Silver buying the Peach Pit After Dark after his grandparents died.
Anonymous
06/11/2024 10:48
Subject: Teenager about to inherit money outside a trust
Anonymous wrote:This happened to us just as our son went off to college. 60 days in rehab cost a lot more than he inherited.
And that is precisely why no 18 yo should get access to 100K. Especially one who has no direction, has anxiety and could be easily swayed into going down the wrong path.
Anonymous
06/11/2024 10:43
Subject: Teenager about to inherit money outside a trust
This happened to us just as our son went off to college. 60 days in rehab cost a lot more than he inherited.
Anonymous
06/10/2024 22:59
Subject: Teenager about to inherit money outside a trust
Anonymous wrote:Anonymous wrote:If the kid finds out op meddled with the inheritance good luck.
Why would I hide anything from my teen? My relative asked me if I wanted to split my share with DC and I said sure do whatever you want. He and his recently deceased wife would not have made DC a separate beneficiary without me. I just a) didn’t know how much it was and b) that they would not put safety rails on a large amount. It’s one thing when you think you might get $1-2k, another when you find out it is $100k.
So the simple solution is to have relative make it all come directly to you, switch it back. Tell them why you think it's important. Then you can put a plan in place (With your estate) for how to distribute the money and have ability to ensure your young adult doesn't blow thru the money (yes 100K is a lot of money, especially to an 18 yo kid).
Anonymous
06/07/2024 15:04
Subject: Teenager about to inherit money outside a trust
Anonymous wrote:If the kid finds out op meddled with the inheritance good luck.
Why would I hide anything from my teen? My relative asked me if I wanted to split my share with DC and I said sure do whatever you want. He and his recently deceased wife would not have made DC a separate beneficiary without me. I just a) didn’t know how much it was and b) that they would not put safety rails on a large amount. It’s one thing when you think you might get $1-2k, another when you find out it is $100k.
Anonymous
06/06/2024 21:58
Subject: Teenager about to inherit money outside a trust
If the kid finds out op meddled with the inheritance good luck.