Estate & Legacy Planning
Rich was recently quoted in an Investment News article regarding common estate planning mistakes to avoid. Here's what Rich had to say about the dangers of leaving too much too soon to younger beneficiaries. "Young adults who inherit wealth often lack the judgment to make responsible decisions with their inheritance," according to Mr. Behrendt. "The danger zone is often for those in their late teens and twenties." Parents should create a trust controlled by a trusted family member or a corporate trust company until beneficiaries reach a mature age, perhaps 30 or 35 years old, he said.