Q. I will be leaving my eight grandchildren money in trusts and have certain stipulations and incentives I decided to include. I’d like to talk to them and their parents about it, but I am not sure how to broach the topic and have an effective conversation and keep family harmony. Do you have any […]
Why Set Up a Trust for Your Children or Grandchildren?
If you are considering transferring wealth to your children or grandchildren, a trust is usually the best method. It is almost always the best way to protect an inheritance from potential depletion due to lack of financial acumen, lawsuits, divorce, bankruptcy, medical bills, and even nursing home bills. A trust also provides you with more […]
Teaching Grandchildren about Finances
Dear Oakley, I’ve been thinking about gifting money to my grandchildren. Before I do so though, I’d like to teach them about financial responsibility. As a financial planner who works with seniors and their loved ones, how do you suggest I do so? Finn Anshull —- Dear Finn, Grandparents are often […]
Do Middle Class People Set Up Trust Funds?
Q. My mother is considering setting up trust funds for her grandchildren, hoping to give them a solid head start on adulthood when the time comes. She would like to provide them with guaranteed financial security later in life and help cover the costs of important life events, such as paying for college, a wedding, […]
Live a Legacy for Your Grandchildren; Then Leave One for Them
Q. The discussion of leaving a legacy recently came up in conversation among our friends and family. It seems our friends are way ahead of us on what they will leave future generations and how they hope to instill values in their grandchildren. My husband and I aren’t getting any younger, and with six grandchildren, […]
Miss Your Grandmother?. . . Then Rent One!
Anna’s mother died when she was six, and she was raised by her grandmother, Betty. Anna had a close relationship with Betty and has many fond memories of their time together. Betty lived a long life and died at the age of 92. Anna misses her grandmother immensely and is sad that her children will […]
Including Grandchildren in Caregiving
Dear Magic, My mother moved close by after my father passed away. She suffers from diabetes and has hip problems. My 13-year-old daughter, Bella, and my 9 year old, Rex, want to visit to help with grandmother’s caregiving and spend meaningful time with her. What are some ways that young Bella and Rex can help […]
Explaining Death and Dying to Grandchildren
Dear Bebe, My mother has a terminal illness and won’t be around much longer. I have yet to tell my children, because I don’t know the best way to explain it. Do you have any recommendations on how to tell children that their grandmother is dying? Thanks for your help! Khan Versayshun — Dear Khan, […]
Want to lower your risk for Alzheimer’s? Babysit your grandkids!
Dear Commander Bun Bun, I take care of my 3 year old grandson, Jake, every day, and boy does he keep me moving. I read somewhere that spending time with grandchildren can help stave off Alzheimer’s. Have you heard anything about this? B.Z. Nanna —– Dear B.Z., Grandchildren keep seniors joyful and active. And you […]