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12-04-2024, 04:40 PM
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Sage
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Join Date: Aug 2009
Location: NJ, NM, SC, PA, DC, MD, VA, NY, CA, ID and finally FL.
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Quote:
Originally Posted by CoachKandSportsguy
A better answer is to start distributing it right now, why wait, if you are concerned that your wealth might be pilfered.
So what if you have to pay taxes. . you can't take it with you, and just give a portion of it to them each year, not alot, not all at once, just a portion, so that there is less to pilfer, if you are really that concerned. . .
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I have been doing that for almost 12 years on a case by case basis for my children as well as my grandchildren for whom I have funded 529 plans. For differing reasons neither child is interested in or capable of managing a portfolio of securities or commercial real estate investments. My concern isn't so much pilferage as poor financial management, loss of principal.
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Last edited by manaboutown; 12-04-2024 at 04:46 PM.
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