Should You Leave Money To Grandkids?

This post is about the decision whether to leave your estate in its entirety to your children, or whether you should carve out a portion for your grandchildren.

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People who tend to leave a bequest to grandchildren typically do so because they want to either help them get a start in life, help them get a college education, or acknowledge their grandchildren through their last will or living trust. Others leave a bequest to grandchildren because they feel like their children will spend the inheritance and the assets will never make it down to the grandchildren.

Others who tend to leave their estate to their children in their entirety choose to do so because either they feel like the children will take care of the grandchildren, they don't know how the grandchildren will mature so they prefer to leave their estate to their children, or from personal experience, the grandparents realize that they never received a bequest from their grandparents, so they carry on the tradition.

It's a personal decision whether you leave an inheritance to your grandchildren. If you do, and your grandchildren have not reached full maturity, you should consider leaving it to a trust for them so that someone you trust will control the inheritance for your grandchildren and make sure the trust assets are used for the right reasons until the grandchildren have reached a point in their life where they have the financial maturity to handle the inheritance.

This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.

Paul Rabalais

Estate Planning Attorney

www.RabalaisEstatePlanning.com

Phone: (225) 329-2450