My wife and I are in their 60s. Should I skip the three unsuitable children and leave everything to my four grandchildren instead?

Dear Quentin,

My wife and I are in their mid-60s and both are retired. My parents have died. I have no living siblings or children. My wife has three adult children in their 40s. None of them are mature, responsible adults. (Alcohol, drugs, can’t do a decent full-time job, etc.). They have four children.

We have to make some difficult decisions about real estate planning. Is it a viable option to skip the “middle generation” and bequest all four grandchildren? They are 10 to 18 years old.

We do not want the “middle generation” to benefit from our property while deceiving our grandchildren from legitimate inheritance. Can you trust or guarantee that our desired plan will actually come true?

Worried grandparents

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Dear grandparents,

Can I skip the middle generation? You can do it. Can I skip the middle generation? you may. I don’t want to sound like an elementary school teacher, so my opinion is not a call to decide if you should, but a vote of confidence that you trust your gut, and past actions Always remember that it is the best predictor of future behavior.

Trusts are a more private option than wills, and if grandchildren are worried about giving them money, they can clearly set the terms of the trust and give the beneficiaries income instead of a lump sum. Parents who support bad habits. You can also provide money from a trust, for example, to help you make a down payment for your house in the name of the beneficiary.

“Alternatively, we can add conditions to trust to encourage good behavior for our wife’s children.”

Alternatively, you can add a condition to trust to encourage your wife’s three children to behave well. “Incentive distribution schemes are a common way for clients to increase productivity. Cash distribution from trusts only if the beneficiaries are in school and the beneficiaries maintain a certain average grade. You can do.” According to Sketchy Law Firm..

Similarly, distribution to children and grandchildren may require proof that they have not used alcohol or drugs for X years. “Distribution may be subject to continued participation in drug and alcohol counseling, completion of inpatient rehabilitation programs, or no further criminal or traffic violations related to drugs or alcohol.” Lee Law Firm adds.

Your letter will arrive at the right time. I”MarketWatch: Master MoneyAt the Online Town Hall, I hosted a session on wills and trust settings. Elizabeth Fourspan is a real estate planning lawyer and partner at Fourspan Claire, and Amy Zender is the Leadership and Managing Director of Ascent Private Capital Management and Legacy Consultants at the US Bank.

Zehnder summarized the difference between a will and trust as follows: “I don’t want everything abandoned in the vestibule to be visible to everyone. And it’s a probate! Trust helps maintain privacy.” I decided to talk to my child about trust, and that obligation was If not, Zehnder recommends using words such as “hope, dream, achievement, maintenance.”

Forspan recommends reviewing wills and trust and updating them every 4-5 years as needed. “At any time, there are major changes in tax law, changes in family conditions, divorces, marriages, and if God forbids, whenever someone in the family dies, a plan is made. And if you become incapacitated, appoint a power of attorney. “

There are many things you can do to help your child or grandchild, whether or not they see it that way.

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My wife and I are in their 60s. Should I skip the three unsuitable children and leave everything to my four grandchildren instead?

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