Case Studies
Estate and Trust Planning Case Study
January 1, 2008Question: My daughter and her husband have been very successful in their careers. He is an Orthodontist and she works as a Pharmacist. They are both hard workers and are extremely dedicated to their professions, but neither one have a firm grasp on their finances. By now it seems they should have accumulated a much larger amount of money than they have, considering the kind of money they are making. They drive very expensive cars, have a huge mortgage on their home, and go on extravagant vacations every year with the three children. While they will probably never have major financial concerns, I feel their spending habits have hindered them from saving as much as they could have otherwise. My daughter and I have always had a close relationship and I am very proud of her, but am worried she would not know how to handle such a large amount of money being passed down to her. I would never consider excluding her from my will. What are my options? Answer »