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A 74-year-old woman and her nearly 30-year-old husband have a net worth of $7 million. The woman is struggling with her husband’s decision to divide their wealth equally between their two sons. She is concerned because her son from a previous marriage has poor money habits, while her husband’s son, who is supposedly wealthy, has a history of spending recklessly. The couple also has a daughter from her husband’s previous marriage, but they are not in touch with her and have decided not to include her in their wills.

The woman is worried about giving her portion of the estate to her husband’s son, who she claims is not good to them and rarely offers help. She is unsure about how much to give to her own son, who is going through a divorce and facing financial difficulties. The woman has made plans for staggered payments to her son over the years, but she is concerned about how suddenly becoming wealthy will affect their children’s life choices.

The couple’s financial advisers describe their assets as generational wealth, but the woman feels burdened by the responsibility of passing it down to her heirs. She has total control over her portion of the estate and can make decisions about how to manage it. She may consider setting up a charity, creating 529 plans, paying off her son’s mortgage, or establishing a trust for her beneficiaries.

It is essential for the woman to communicate openly with her husband about her concerns and perspectives on the situation. While she may feel pressured to divide the estate equally between their children, she ultimately has the power to make the most meaningful decisions for their family’s future. By taking the time to consider her options and make informed choices, she can ensure that her wealth has a positive impact on her children and grandchildren.