How To Watch Your Kids Benefit From Their Inheritance

In part two of our series in parents and kids having “the talk” (estate edition), we want to talk about getting creative with the idea of pre-gifting. Bootstrappers, don’t go away just yet! Indeed, some people feel that pre-gifting inheritance (especially large sums) would serve to spoil their child. And in many cases, it would! So if you feel that may be a factor holding you back, have a realistic conversation with your beneficiaries and ask them about some of the challenges they may face, what goals they may have… these conversations are way easier than we think to have and can unlock a whole trove of information! The next step is to get creative. This can actually be quite fun, and rewarding for you and your loved one. Kent suggests some methods and steps to get your started, but every case is different! Shake of some of that probate tax with a couple good pre-gifts, and chances are your children will help you not regret it!