Would you want your children to inherit at 18?
As much as I would have liked to inherit a large sum on money when I was 18, like many people I can look back now and be extremely glad that I did not.
Inexperience, naivety and a taste for expensive long-haul beach holidays would have pretty much ensured that every penny had long disappeared before I could truly appreciate its value.
Worse, this would then have been followed by a life of regret at what had been squandered at my future daughter’s expense.
But the fact is that parents who don’t make a Will risk their children coming into a large sum of money on their 18th birthdays and there is precious little any concerned family members can do about it.
It is simply the law. This is especially a concern for Londoners who own property. With average house prices in the capital close to £400,000 the potential for disaster is huge.
If you are a parent – even of very small children – and you and your partner both die without a Will that specifically sets out the terms of inheritance through a legally formed Trust, your children will get everything on their 18th Birthday.
Everything.How many 18 year olds do you know who would sensibly rent out the house and invest any extra money wisely – building purposefully for a comfortable future?
Leaving things to chance not only puts your child’s well-being at risk but could have very large implications for generations to come.
That is until someone comes along and rebuilds the family wealth that was lost on that fateful summer teenage road trip to Vegas.
If you have young children and want to prevent this from happening call me for a chat or use the email us button on the left.
It could be one of the most beneficial things you ever do for your children, not to mention all those future generations to come.