Weinstein & Randisi
Toll free:800-768-1780

Resize the Content Text

Considers for parents planning to leave money to a child

The relationship between parent and child should be based on unconditional love. That being said, as parents and children age, their relationship often grows more complex and, at times, strained. Growing or grown children may struggle with personal issues or make life choices of which parents don't approve.

When it comes to estate planning and leaving wealth to future generations, there are a number of factors that parents would be wise to consider. A comprehensive estate plan should be tailored to address an individual’s situation and accomplish intended goals. With this in mind, it's often in the best interests of both parent and child to recognize and act according to an heir's unique capabilities and weaknesses.

While it may be difficult or painful to admit, when making estate planning decisions, parents would be wise to take a child's drug or dependency problems into account. The last thing any parent would likely want is for a child's addiction to be fueled by inheritance money. A trust can be used to meter out or protect an individual's assets until or unless certain requirements are met.

Personal problems aside, parents often want to equally distribute assets amongst children. In some cases, this makes sense. In cases where one child is extremely wealthy and another of modest means, however, it may make sense to leave more to the child who has less. Parents also sometimes fail to think rationally when it comes to naming an executor of a will or trust. For example, does naming an eldest child or only son, simply by virtue of birth order or sex make sense?

Estate planning can be complex and therefore requires the advice and assistance of a professional who can help both raise and address important considerations.

Source: Financial Planning, "Estate Plan Design: 5 Key Questions for Clients," Tracy Craig, Oct. 24, 2013

No Comments

Leave a comment
Comment Information
  • I wanted to write to say how pleased my wife and I were at your professional handling of our estate planning and preparation of new wills. We were put at ease by your visit to our home for an interview and were pleased that you listened to us and captured the things that we felt were important.

    --Robert and Christine Simonson, Fairport
  • In order to finalize the documents we came to your office and were greeted in a very professional manner and we could not have asked for finer service. We left with copies of everything we needed and feel very confident our needs have been met. Thanks again. We will surely recommend you should the opportunity arise.

    — Christine and Robert Simonson, Fairport
  • I have been working with Weinstein & Randisi for about two years now. Elizabeth Randisi, through a very thorough process, has helped my wife and me determine what is really important in our lives. Thus, we were able to draft a living will that reflected our most important values regarding our estate.

    --David and Ajia Cherry, Fairport
  • I would like to give a testimony for Elizabeth Randisi, an estate attorney with Weinstein & Randisi. Her knowledge of wills and estate planning was clearly demonstrated in her presentation to us. Realizing our need for a will, my husband and I went to see Elizabeth.

    --Kathy and Gary Gray, Webster
  • Filing for Medicaid is never an easy or fun process. However, working with the Weinstein & Randisi firm made the process simple and streamlined. We were able to obtain all files and records regarding Medicaid enrollment within a few days using specially prepared checklists and verbiage recommended by our assigned paralegal.

    --Ajia and David Cherry, Fairport
Awarded Top 50 Estate Planning Blog
Email Us For a Response

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Blog Feed


Weinstein & Randisi - estate planning

290 Linden Oaks, Ste. 200
Rochester, NY 14625

Toll Free: 800-768-1780
Phone: 585-310-1578
Rochester Law Office Map


Call us now for a free, 100% confidential consultation: