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Paul

Can Your Generosity as a Grandparent Come Back to Haunt You?

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Many of my clients are grandparents, while others look forward to the advent of the next generation of their bloodline in the not too distant future. Those that are already grandparents are convinced their offspring’s offspring are the most brilliant and talented the world has ever known. One can only hope these youngsters bring those traits with them right into adulthood. However, the one quality or attitude you as a grandparent do not want your progeny‘s progeny to bring into adulthood is entitlement, which can lead to laziness. You want them to put all that inherited brilliance to work, and have a wonderful life.

Of course, having worked hard for what you have and what you have to give and to perhaps leave behind, you want both your adult children and your grandchildren to enjoy things you could never afford. So as both a parent and a grandparent, it can – and for most of my clients it usually is – a difficult balancing act between wanting to shower your family members, especially those adorable grandchildren, with gifts of money to ease their path in life. Read More