What to Do if You're Worried About Leaving Your Child a Large Sum of Money

Estate planning can be difficult enough on its own but what happens when you're hesitant to leave behind a large sum to a child who might be lacking financial responsibility. This challenge is the focus of the latest episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®. They tackle a common concern shared by many parents: ensuring their wealth is managed wisely after they're gone. Here's what we discuss in this episode: 0:00 – Intro and question 0:47 – Common situation for families 2:06 – Types of accounts matter 4:50 – Ways to lower taxes 6:01 – Will vs trust 9:04 – Next steps   Check out our other free financial resources here: https://johnsonbrunetti.com/financial-resources/ Contact our team: https://johnsonbrunetti.com/contact-us/  Check us out on YouTube: https://bit.ly/3CcAzai