Noahs grandparents recently passed and his parents find themselves with a large inheritance as well as the
Question:
Noah’s grandparents recently passed and his parents find themselves with a large inheritance as well as the wake-up call that they themselves should venture into estate planning. Noah’s older, established brother suggests that they set up a by-pass trust so that all their money goes to their grandchildren. Noah himself has 3 children. Although Noah someday hopes to have a family, he is currently back in college pursuing a Masters Degree and very much unattached. Noah is a bit of a free-spirit, and his mother is putting more pressure on Noah to settle down and give her more grandchildren.
a. What argument can be given to the parents to convince them that Noah’s brother’s proposal is not ideal?
b. What counter proposal could Noah make?
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