Many parents of college students grapple with how much their children should work—and contribute—toward their living and tuition expenses. These parents recognize that not having work experience during college affects their child’s future job prospects and compensation offers. Most families of wealth struggle mightily with how much to provide their offspring. As Warren Buffett famously put it: Give your kids enough to do anything they want, but not enough to do nothing.
What is money for? What is our obligation to the younger generation? And when is enough, enough?
Determining an inheritance amount for heirs is difficult, and understanding how others have moved forward can be enlightening. How would you like your heirs to use an inheritance?
To fund their retirement?
To pay for their and/or their family’s education?
To buy a home, or start a business?
Philanthropic Advisors at Rodman & Associates work hand-in-hand with families to consider these and other questions.
Are you ready to start the conversation? Contact us today!