Kids have received an inheritence

Keep_pedalling

Exodi said:

eskbanker said:

root said:
For some reason whenever this topic comes up in the forums, it always seems that the prevailing opinion is 'its their money' which of course it is, but its still nuts giving that kind of money to someone who has not had to work for it and therefore does not appreciate or understand the value of it.

Are you referring to the deceased who'd stipulated that in their will, or the parent trying to exert control over its distribution?

I think this response is the type of response root is alluding to.

At least in my elderly stepfathers case, it would not be his preference for his beneficiaries to put all the money up the wall either. He fortunately had a good will-writer who discussed trusts with him to facilitate these wishes, though many do not.

I think it's likely that many deceased would prefer if the result of their lifetime of work wasn't immediately spaffed up the wall, which I'd hope is not a controversial thing to say as I'm sure it's something we can all understand - though you're free to argue the technical line that 'if they wanted the money to be restricted, they should have included a trust in their will'.

As far as I can see, root is not suggesting not giving the beneficiaries their rightful inheritance - it's more the latter in your question, though for the record, I don't believe anyone is suggesting withholding the funds either. More to steer them in the right direction ,as a parent should with all things.

But we should not have this debate because it comes up ad nauseam on this forum, I don't want to engage in it the zillionth time. Yes once they're 18 they are legally adults, etc, etc. Unfortunately 18 year olds are not renowned for their financial prudence.

There is a reason most people don’t use trusts when making wills in that they are a pain for the trustees to manage, especially for relatively small amounts and they are subject to some eye watering taxation.