Whether structuring death benefit payments under a life insurance policy, a distribution scheme under a Last Will, or defining similar beneficiary designations, all too often, the structure simply reads, “All to spouse, and if none, all equally to kids or grandkids”.

With high school graduation upon us, many of our kids will be heading off to college. If the school is not local, a topic of college preparation may revolve around the assertion, “I need a car”. From there, discussions might move further into deciding, “do we lend our child one of ours?”, or “do we buy our child a car?”.