When they are tiny newborns, they are cute and cuddly – and innocent and vulnerable.
Then they toddle around and sometimes they say the most amazing things – and sometimes they break a precious vase.
As adolescents, we wonder if they’ll make the right choices – educational, vocational, family and behavioral – and we even worry about it. We made some mistakes. So will they, but we so much want to help them not make BIG mistakes.
You see, we’ve been down the roads they’re about to travel, and we know the pitfalls and the perils, and we wish they could learn life’s lessons the easy way instead of enrolling in the school of hard knocks.
School. Is it still necessary where our grandchildren have the knowledge of the world at their Internet fingertips? Is university, college, vocational and trade school as important a few decades ago? Whatever your answer is, ask this question:
“Are our grandchildren going to be successful – make their own living, and more – in the 2010s, 2020s, 2030s and beyond? Who knows? Will our children be motivated? Will they be able to afford it? Will they come out of school so deeply in debt (student loans) that they can barely function (mentally and emotionally), if at all?”
I meet with many grandparents who aren’t sure how to help their grandchildren, but they absolutely want to try. They say, “we’re not sure what to do or how to do it, but we’ve got to try.” I agree, and I have the collective solutions gleaned from many, many other cases that provide ideas and strategies. Often, the financial aid that grandparents provide for grandchildren comes in the form of an “incentive” – that is, if they make certain educational and career decisions, and perform well in their schooling and training, there is financial aid for them via the Grandparents’ trust. Sometimes, there’s even an additional reward for hitting certain goals, a reward that enables the successful grandchildren to be on their way with seed money for a business, a downpayment for a house, or other rewards.
So, feel free to call me at (801) 534-7271 if you want to ask a few questions about how your Estate Planning can really make an impactful difference in the future of your grandchildren and their descendants.