Estate planning can be difficult enough on its own but what happens when you’re hesitant to leave behind a large sum to a child who might be lacking financial responsibility. This challenge is the focus of the latest episode of the Money Wisdom podcast with Jake Doser, CFP®, CPWA® and Nick Colantuono, CFP®. They tackle a common concern shared by many parents: ensuring their wealth is managed wisely after they're gone.

Here’s what we discuss in this episode:

0:00 – Intro and question

0:47 – Common situation for families

2:06 – Types of accounts matter

4:50 – Ways to lower taxes

6:01 – Will vs trust

9:04 – Next steps

 

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