Deciding What to Gift to Your Kids Is Really a Matter of Trust

One of the cornerstones of estate planning is thinking about how you’ll pass on assets to your children. This frequently begins by asking yourself how much should I give and when? These are core questions that get down to the foundation of an issue of trust. Being concerned about whether your children are capable of handling a significant amount of money is a very common concern.

Your concerns might not even be that your children are financially responsible, but rather whether they are equipped with the appropriate education and ability to fruitfully invest assets that you gift to them. Many people are unprepared for a significant inheritance, which is why there are so many stories about people who very quickly spend through lottery winnings or significant sums of money received in other ways.

Exercising control over the estate planning process means working directly with an estate planning lawyer who is familiar with you and your individual plans. This will allow you to craft a strategy that is aligned with your intentions and goals regarding what you hope to leave behind for your loved ones.

There are many different strategies available to you to help you accomplish passing on assets to the next generation in a way that leaves you filled with confidence that they’ll be able to receive their inheritance and make the most of it. For more questions about how to set up an estate plan aligned with your personal goals, contact an attorney now to ask about using tools such as trusts.

A Michigan estate planning lawyer can support you with every aspect of your planning approach. Set up a phone consultation today to determine the best way to pass assets on to your children.


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