You Don’t Know Your Kids

18 Nov 2022 · 1 min

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Attorney Jerry Taylor says most parents don't know how their kids will actually behave around money. He's seen decades of inheritance disputes and warns that children often react in shocking ways once parents are gone. A written estate plan and honest family conversation about it can prevent that damage.

Look at me. I want you to answer this question. Do you really know who your kids are? After decades of protecting people's money, I say you don't really know your kids until you've seen how they react with a large sum of money on the table. You would be shocked at how I've seen some kids react when money's on the table and the parents are gone. Don't allow this to happen in your family. Create a plan, put it in writing, be fair to each child, and then tell them what you've done. Trust me, I'm a lawyer.