Overview
Beth Tractenberg contributed to an article titled "Motivating Children of Means" in Appleby's Wealth Management 20:20. The article discusses the strategy of motivating children of means by planning for wealth transfers to take place over the long term, using trusts that may or may not have strict conditions.
Ms. Tractenberg explains many high net worth clients begin the process of planning trusts with detailed instructions laying out the terms of which money might be passed on. She says, "Frequently clients come up with ideas for trusts that at first blush make sense, but as soon as we start to explore the restrictions on distributions they might not really work out."