I know he means well and its his money he earned, but I'd probably be super pissed if I was one of his kids. I hope the mom has her will all set up just in case something happened to her so they kids would be alright.
Edit: Oooops, I didn't know the oldest kid was ten-years-old never mind.
Even if his kid was an adult, I don't understand the issue. Both my parents are each other's beneficiaries. When my dad died, me and my three siblings were in our 30s. Mum was sole beneficiary, as she should be. She chose to give us each a portion of his life insurance but his estate went to her. When she dies (ugh! I don't like typing that!), the estate will go to the children. It's how it should be, if the parents are still together at death, in my opinion.
I guess, but you never know what can happen to the other parent. As long as your kids grow up with right values and learn how to manage money, why not leave them a trust fund? I mean, aren't there protocols to make sure they cant access it to a certain age? Idk idk that just how I feel about it. I'd want to make sure everyone is taken care of.
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it doesn't sound that bad.
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Edit: Oooops, I didn't know the oldest kid was ten-years-old never mind.
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