The Best Way to Leave Money to the Grandchildren

Giving kids and grandkids an inheritance brings a lot of questions with it. Here’s how to leave it—and take care yourself and your family.

By Jennifer Kelly Geddes
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Jennifer Kelly Geddes recommends good common sense here, to prepare to give inheritance assets to grandchildren... or to anyone, really. Obviously she favors trusts it seems, as the best way to assemble an equitable estate if there are a lot of assets, jewelry, antiques, cash, investment accounts, and so on. Many attorneys insist that if we have several children, to do this with a trust: And to consider putting it in trust with a few strings attached. And the problem of who do we trust always rears its' ugly head -- which beneficiaries do you trust with your money? Even after you're gone! And so many estate planning attorneys often recommend that grandparents think about distributing trust assets in chunks, rather than all at once. Plus adding a Spendthrift Clause if you want to be really careful. But a lot of lawyer forget that there's no reason to go through all that with grandchildren beneficiaries that are totally trustworthy! And what if there are only a few assets, and one or two heirs, and it's not a complicated estate? Keep it simple?

Sure, I would... but for many, it's no, keep it complicated. So even for a simple situation... instead of putting a will together inexpensively, with a simple estate attorney, to manage a straight forward probate process... Many estate lawyer say grandparents should "eliminate uncertainty" and hire an expensive trust attorney, and set up a relatively complex trust scenario, continuing to pay a trustee a fair amount of money every year to manage a tiered distribution process... As attorneys say jokingly -- "designed to make business for lawyers..." Well... not for everyone. Unless we're talking about real wealth, with 7 or 8 figure inheritance assets distributed in a tiered way every 5 or 10 years, with 7-figure payments... some grandparents don't want all those complications for their grandchildren, with a simple estate and probate process in play.

I’ve dealt with a lot of heirs of estates, mostly middle class estates with modest assets, not millions like a rock stars. In fact most people are middle class, and merely inherit $50,000, $75,000, $100,000 if they’re lucky. Usually $20,000, $30,000, in that range. No need for fancy trusts, and fancy trust lawyers.
Which is also why, interestingly enough, when many middle class inheritances seem to be less than what is generally expected by the heirs, and disappointment sets in all the way around – a lot of middle class heirs, grandchildren, look into inheritance loan advances or loans on inheritance from online inheritance loan companies that specialize in providing inheritance cash advance funds… probate loans, estate loans, inheritance advance or probate advance assignments... inheritance loans in advance. Nothing, they are sure, that grandad or grandma would mind.

I’m always amazed at how disappointed some grandchildren, heirs, can be, receiving a smaller inheritance than what was hoped for, dreamed of from grandma and grandpa... this seems to motivate a lot of grandchildren to get as much inheritance money as they can, as fast as they can… typically with a large-ish inheritance loan or probate loan that can be accessed within a few days after getting inheritance loan fees or inheritance advance rates, from a well known probate loan or inheritance advance firm like, or possibly or maybe, or a similar inheritance loans firm. I suppose those heirs figure if their inheritance from grandma or grandpa seems less than they had been hoping for, or that isn't exactly 'equitable' in their view, they may as well enjoy it sooner than later. Hey, grandma wouldn't mind... and in fact grandpa might have favored it. They certainly understood the passage of time, and what wasting time "waiting" is all about.

geo2017 on 2017-11-17 19:10:17

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