You spend years building your wealth, possibly decades, with the intention of passing it on to your children. But how long will it really last once it’s in their hands? The truth is, many heirs spend their inheritance within a year.
Often, people have clear plans for the money—vacations, buying a home, starting a business, or paying off debt. When they receive the funds, there's little hesitation to spend it quickly.
One important factor to consider is the age of your beneficiaries. For example, will a young adult make sound financial decisions? An 18-year-old might spend their entire inheritance before their 19th birthday.
Would they make wiser choices at 35?
These are essential questions for estate planning. Once you’ve clarified your goals, explore your options to ensure your legacy is used wisely.
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