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When it comes to passing on your wealth to your heirs, there is more to consider than just who gets what. As a parent, your job is never really done. Even after you are gone, you want to make sure that your children and grandchildren are financially secure but also financially responsible. You need to consider what your heirs will do with your wealth once you are gone. Will they waste it or put it to good use? Will they be able to take on the responsibility of managing wealth? 

Since everyone is different and situations are always changing, it is impossible to know what will happen in the future. However, there are measures you can take now to guarantee responsible management of your wealth whenever the time comes. 

After all, you worked hard to accumulate your wealth, and you want it to have a positive impact on your family. In order to accomplish this, an increasing number of people are creating what is referred to as a spendthrift trust, also known as a conditional or incentive trust, that permits requirements to be fulfilled before any distributions to beneficiaries are made. 

Typically, these trusts are set up to benefit adult children, as they are the ones most likely to need the protection that these trusts offer. When a person reaches adulthood, they have tipped their hand, so to speak, about whether they are trustworthy or untrustworthy when it comes to handling money. 

As a caring parent, it is important to safeguard your wealth from being used to support behaviors that go against your beliefs or could potentially harm your children in the future. Establishing