When Helping Hurts - Inheritance

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money.

M We recommend every person have a will and probably a trust.  What parent or grandparent does not want to bless their children with a ‘legacy’ gift after they’ve gone to heaven.

V If you have not made special designations, when you leave this planet, your wealth might go to your relatives.  A minor won’t receive the money, their guardian has control until that child is 18.  What 18-year-old do you know that is able to make wise decisions with large sums of money?  Did you at 18?  Creating a trust that releases funds in smaller amounts or for specified needs is a better way to help without hurting that young adult. 

M Plan well so that gifting is a blessing.