Receiving a large inheritance from your parents, while at the same time, not feeling educated enough to manage the funds is a very big problem… having been involved in estate planning for the better part of 30 years, and authoring a book on the subject, in my opinion, serious consideration should be given to have the money should be distributed upon the demise of the giver. Putting a great deal of money in the hands of a inexperienced person, that has never had to work for the money, becomes a very serious problem. Depending on the level of education, experience, and sophistication of the beneficiaries, those problems can be resolved to a large extent by creating generation skipping trusts, that will deliver the funds to the end-user, exactly as you wish. In addition, the funds can continue down through the generations without any additional estate, tax concerns, one of the same time protecting the inheritance from lawsuits, creditors, and divorcing spouses…. This entire segment is critically important, not to be giving serious consideration…
https://www.fa-mag.com/news/most-heirs-in-the-great-wealth-transfer-feel-unprepared–says-ny-life-survey-73958.html
Younger Generations Unprepared For Wealth Transfer, NY Life Says
