5 Ways NOT to Gift to Children … and 5 Better Ideas

Parents who mean well sometimes put their children in a position to blow it.

(Image credit: christingasner)

Giving to children can be a weakness. We often want to help children actualize their financial goals and give them an easier life than we might have had. However, gifting to children can also be a disaster: We all realize that many children are irresponsible with money, do not have enough life experiences yet to protect it, and are targets of those interested in getting a piece of the money you gave them.

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Daniel A. Timins, Esq., CFP®
Owner, Law Offices of Daniel Timins

Daniel A. Timins is an estate planning and elder law attorney, as well as a Certified Financial Planner®. He specializes in Estate Planning, Surrogate’s Court proceedings, Real Estate Law, Commercial Law and Medicaid Planning. He is a graduate of Pace Law School.