Posts Tagged ‘incentive trusts’

There are many options to protect your children from themselves but the options are the epitome of tough love. Still, they could help your child in the end.

 While planning for your estate addresses many concerns, likely providing your loved ones is at the top of the list. But what if you can fully trust your loved ones to use your gifts wisely and to take care of themselves responsibly? One common alternative is to cut those problem cases out of the will through disinheritance. Nevertheless, as a recent New York Times article points out, those problem cases are all the more reason to make proper estate plans to protect your legacy and to use the inheritance to promote positive change. Problem cases for inheritances aren’t all “problem”…

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Parents need to develop a plan that monitors their prodigal sons and daughters while respecting their independence and giving them room to mature.

It's a delicate balance, but parents who employ innovative financial training, carefully chosen trustees and cleverly written trusts can find there's hope for their high-rolling offspring. Estate planning is about taking care of your family and loved ones. But what if you have concerns about how your loved ones will use those assets? You spent a lifetime earning what you have through hard work and thrift. So why pass it along only to be squandered? Would you hand over the car keys to a teen who hasn’t proven he or she can drive? As any automobile insurance agent can attest,…

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