Estate Planning

Q: My child will be 18 soon, but I do not feel like he is ready to manage an inheritance well if my spouse and I pass unexpectedly in the near future. How can this be addressed in our estate plan?

A: This is a common concern and it can be addressed well with proper estate planning. When you and your spouse create a trust, you will choose at what age or ages your child will receive the assets of the trust after you have passed away. You will also nominate a...