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Taxtom
Taxtom , Accountant
Category: Finance
Satisfied Customers: 2364
Experience:  25 Years in preparing Personal and Business Tax Retuns
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HOW BEST TO GIVE MY IRRESPONSIBLE 20 YEAR OLD SON THE BENEFIT

Resolved Question:

HOW BEST TO GIVE MY IRRESPONSIBLE 20 YEAR OLD SON THE BENEFIT OF MY IRA, 401K, LIFE INSURANCE, HOUSE AND ASSETS WITHOUT GIVING HIM UNSUPERVISED CONTROL OF THESE THINGS?
Submitted: 5 years ago.
Category: Finance
Expert:  Taxtom replied 5 years ago.

Taxtom :

Hello, You can do it as a trust or through a will. You designate that he gets a certain amount each month until he reaches a age such as 35 and then he would ge the balance. If you are concerned he will neve be responsible then you can have your assets sold such as the house and have the executor of your estate buy an annuity that will pay him so much each month for the rest of his life.

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