We did a few things to encourage goals.
– college expenses are paid directly.
– small bonus on graduation of college… $10k
– paying out in thirds… 1/3 at age 25, then at 30 and 35.
We were worried about a lump sum before they’re mature enough to handle it. Something we’ve seen enough real world examples of.
Our goal is to live long enough that none of this is an issue…. we’ll spend it on ourselves in retirement. But if that plan doesn’t work, hopefully we have a good backup plan.
Edited to add that executor and backup executors are family… so only actual expenses charged.. not labor.
