Wealth Adviser

Preparing the Adult Kids for the Inheritance

Updated May 2, 2013 5:42 p.m. ET

The father and mother, both 58 years old, wanted to teach their two grown children financial responsibility before the kids inherited their parents' multimillion-dollar estate.

The father worked at a hedge fund and the mother had inherited wealth later in life. As a result, they had nearly $50 million in investable assets. But their son, an artist, and their daughter, a stay-at-home mother, had little experience with investing and...

Available to WSJ.com Subscribers