Using an Inheritance to Teach Your Problem Child a Lesson
But itâ€™s sometimes difficult for parents to find the right balance between making financial and professional resources available and encouraging their children to grow into independent adults. I have written a lot over the years about the counsel that parents seek to help them do this. A whole industry now exists around â€œnext generationâ€ advice and about how to â€œlaunchâ€ children into adulthood.
And letâ€™s be honest: if affluent parents were not anxious that their children could end up as alcoholics, say, or plagued by bad decision-making, this industry would not exist.
Click source link below to read the full article…
Source: New York Times
Great article about passing wealth on to your kids…a good read.