Will an Inheritance Spoil Your Children?

Published On: 07/03/2017

IStock_14528351_XXXLARGEParents face a tough decision, when it comes to leaving an inheritance for their children.

There two schools of thought when it comes to leaving inheritances, according to Forbes in "Why Not To Leave Too Much To Your Grown Up Kids."

It is generally accepted that when parents pass away, everything they have left will be inherited by their children.  However, there is another approach to inheritances that a few people have always taken.

The second approach comes from a belief that if children know they will receive large inheritances from wealthy parents, then they will have little incentive to make their own money. They will become entitled and lazy.

The thinking also goes that even if the children do not know ahead of time, they will become entitled once they do receive a large inheritance.

It is true that some people do become entitled when they know they will receive considerable wealth later.

Others do not.

The best solution for parents may be to take stock of the character of their own children and make a decision regarding what is best, given those characters.

An estate planning attorney can help guide you in creating an estate plan that fits your unique circumstances and works best for the entire family. Call (443) 470-3599 today and schedule a consultation with Maryland Attorney Britt L. Stouffer to learn more about Estate or Elder Law and how she can help you.

Reference: Forbes (June 7, 2017) "Why Not To Leave Too Much To Your Grown Up Kids."

To learn more or get started on your estate plan, just schedule a time to visit us for a no obligation complimentary consultation.

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Britt Stouffer

Britt L. Stouffer is a Maryland attorney experienced in Estates, Trusts, and Elder Law. With over 10 years of experience in Estates and Trusts, she has learned to appreciate how unique each client truly is. On a typical day, you will find her working on Wills, Revocable Living Trusts, Powers of Attorney, Advance Medical Directives, Tax Planning cases, Estate Administration filings, Petitions for Guardianships, Special Needs Planning, and Asset Protection.

658 Kenilworth Dr., Ste. 203, Towson, MD 21204

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