tag:blogger.com,1999:blog-4402283548766807872.post5773705031821682346..comments2024-03-29T02:47:49.234-04:00Comments on The Blunt Bean Counter: Gifting and Leaving Money to Your GrandchildThe Blunt Bean Counterhttp://www.blogger.com/profile/11358868550072516313noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-4402283548766807872.post-48196984904570305742021-02-16T23:15:45.691-05:002021-02-16T23:15:45.691-05:00Hi Dee:
Unfortunately, this not a simple answer; ...Hi Dee:<br /><br />Unfortunately, this not a simple answer; what you want involves your will and would likely involve a trust.You should speak to your accountant or an estate lawyer, this is far too complicated to answer on a blog The Blunt Bean Counterhttps://www.blogger.com/profile/11358868550072516313noreply@blogger.comtag:blogger.com,1999:blog-4402283548766807872.post-67954198389098302602021-02-16T15:02:59.364-05:002021-02-16T15:02:59.364-05:00Mark, what is the cost-effective way to leave the ...Mark, what is the cost-effective way to leave the proceeds from the sale of my principal residence to my 4 grandkids equally while ensuring that the money is only available to them at, for instance, age 20 plus for further education and at age 30 for buying a home etc? You talk of family trusts (and i can see the merit of that in case of substantial assets/income splitting) but is there a more cost-effective way to do this upon death while letting these funds remain invested and growing in a simple ETF portfolio till needed? PS I am 67, retired and in good health and my grandkids are between 1 and 5 years old today. My home could potentially be worth around Cdn $ 1 million upon death. My own 2 kids are both financially very secure. Your thoughts much appreciated. Dee Anonymoushttps://www.blogger.com/profile/08469932694229711312noreply@blogger.com