Teenage and early adult rebellions are common. Parents who pour all of their love and resources into their children often feel distressed when their children turn away from their faith and start making poor life choices.
Many Christian parents take great comfort in the story of the prodigal son. In this particular parable, Jesus explains how much joy a parent might experience when a wayward child learns from their mistakes and returns to the fold. In the context of gospel teaching, this parable is about the importance of redemption even after a life of sin.
This parable can offer an important perspective to parents whose adult children do not live a life that reflects their values. Specifically, the tale of the prodigal son could help guide them in the creation of an effective estate plan.
A direct inheritance might not be wise
Adult children who have embraced unhealthy lifestyles may have multiple romantic partners without marrying or may indulge in the abuse of drugs and alcohol. Once they reach adulthood and begin living independently, their parents have few options for assisting them, other than continuing to love them and offering appropriate support if they attempt to improve their lifestyle.
In the meantime, concerned parents may need to make adjustments to an existing estate plan or create one to ensure that the legacy they leave upholds their values. If parents die without a will, then their assets generally pass to surviving spouses and children. Family circumstances do not influence how the courts distribute assets, meaning that an estranged or addicted child receives as much of the estate as their upright siblings.
Using a will to transfer property may not be the best option available when an adult child might abuse their inheritance. Instead, parents may want to create trust. A trust created with the right language can help prevent the abuse of inherited property to support an addiction or fund a sinful lifestyle.
The trustee may only make distributions in very specific scenarios. The trust could offer financial support if a wayward adult child undergoes treatment or decides to continue their education. It can serve as an incentive to improve their circumstances and can metaphorically represent the fattened calf slaughtered to celebrate the return of the prodigal son.
The loss of a parent can serve as a profound wake-up call to an adult child who may not have lived a life that made their parent proud. Rather than outright disinheriting a child who has struggled to make the right choices, parents may prefer to structure their inheritance in a way that reduces the risk of them misusing their inheritance.
Parents with complex family situations may need help evaluating their different options during the estate planning process. Creating a trust is one of many solutions for those who want to support their children but not necessarily their destructive, sinful habits.