It’s important to take the time to decide how to leave your assets to your children, or other minors in your life. That’s the takeaway message from hosts Thomas Kopelman and Dave Haughton in this week’s Practical Planner episode, where they focus on the reasons for structuring how children receive assets but the considerations that go into it, such as their long-term motivation and well-being.
They dig into the reasons why leaving it outright may not be best, and why choosing a trust can be a valuable tool to plan for childrens' financial future. The explore different options for structuring trusts, such as naming a trustee to manage distributions or staggering distributions based on age or yearly terms.
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