If you are adamant that your children or grandchildren get a college education, you can use your estate plan as a way to motivate them to get their degree. Maura Curran can help you create a plan that accomplishes this.
What you can do is create an estate plan that provides a certain amount of money will be set aside for each child that attends college. However, the child only receives that payment if he or she attends a university. For example, for each year of college completed, your heir could be paid $5,000 (or whatever amount you choose). You could also select an amount to be paid upon graduation with a Bachelor of Arts or Bachelor of Science. There could even be an extra amount paid if your heir obtains a graduate degree (masters, law degree, medical degree, etc).
This method would provide an incentive for your loved ones to pursue their education, which doesn’t always happen if you simply select a certain age requirement for their payment. How you structure the payments is up to you. Contact Maura Curran today to get started!
