Anderson Cooper has decided not to leave an inheritance to his minor child, hoping to instill a strong work ethic. However, leaving assets to a child does not have to be an all or nothing decision. You can properly design a plan, which keeps assets outside of a child’s estate, far away from questionable decisions (bad spending habits, creditor claims and even divorces) yet allows for their unforeseen personal needs or emergencies. A plan can also be implemented for their inheritance which fosters their own personal, financial or successful entrepreneurial development. All the while, encouraging good financial stewardship and charitable behaviors for generations to come. Find out more about proper legacy planning at jsburton.org.
