How To Help Make The Grandkids into Accomplished Adults
- Ever worry about how your grandchildren will turn out? While you can't control how your grandchildren will turn out, you can be a big influence.
- Want your grandchild to get a good education? What if you told them there's $50,000 waiting for them if they finish college? You do not even need to be around to control this. Simply set up an irrevocable trust, gift $10,000 annually (or $20,000 if you are married) into the trust, follow the rules for maintaining it and give your grandchild incentive to do the right things.
- In your trust, you can make up any rules you want. For example, the money can be distributed at a certain age. Or, you can dictate that the money gets distributed only if they graduate with at least a "B" average. Or you can stipulate they get nothing if they ever get involved with drugs. Or you can stipulate that the funds can only be used for the purchase of a house.
You can't control the future, but you can sure influence it. With all generations, money talks. If you'd like to learn more about how your estate plan can include influencing the future, call to set up an estate plan. You'll learn how to make your wishes come true.