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Modern Estate Planning Blog

Elder Law & Special Needs Planning

Gold River Trust Attorney Warns Against Strict Parenting From the Grave

June 9, 2011

As a trust lawyer in Gold River, I know all parents want to see their children succeed. For most families, this means going to college, getting a good job and creating a happy, healthy family of their own.

For this reason, we see many families with a large amount of assets attempt to “guide” their heirs to succeed by only allowing them to receive their trust funds if they reach certain milestones.

For example, a couple who is wary of their teenage son’s hard-partying ways might dictate in their trust that the young man can only receive his inheritance after he completes college.

While this can be a very motivating factor for some young people, it also can present some problems if the will or trust is worded in a way that does not allow for some flexibility.

What happens if that son becomes a very successful entrepreneur and decides not to go to college, but instead focus his life on running a company? Or perhaps he wants to fulfill a dream of serving his country in the military instead of going to school.

Would you really want your child to not receive a portion of your estate because he didn’t follow a traditional path to success? What if a life changing accident occurs that prevents him from fulfilling your wishes?

That’s why it’s so important to talk to an experienced estate planning lawyer about how to set up realistic guidelines for distributing a trust fund. The Gold River trust lawyers at the Chubb Law Firm would be happy to help put their extensive experience to work for you. Call today at (916) 241-9661 and ask if you qualify for a free Peace of Mind Planning Session.

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My wife, Sue and I really appreciate the concern and care Heather took in doing our estate planning. It has given us peace of mind. Heather keeps us informed of the latest changes in the laws that we might want to consider. We highly recommend her and the Chubb Law Firm.

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