We're in our 60s and have millions in the bank - we're worried that a large inheritance to our son with no savings could be determinetal
Briefly

A Reddit user fears that leaving her stepson $5 million could spoil his life due to his poor handling of money. Her husband has a child who cannot seem to manage finances, despite a decent income. The couple is contemplating setting up a trust to provide for their stepson’s essentials like healthcare and education while preventing potential financial ruin caused by a sudden influx of wealth. The OP's worries stem from the stepson's lack of savings and questionable financial decisions, raising crucial questions about managing inheritances wisely.
The original poster expressed concerns about leaving $5 million to her stepson, fearing that his poor financial habits could lead to detrimental consequences.
Considering her stepson's questionable spending behaviors, the OP is contemplating establishing a trust to ensure funds are used responsibly for essentials like healthcare and education.
Read at 24/7 Wall St.
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