My step daughter was 3 when I married her mother. Her biological Dad was killed in an MVA a number of years back. She is currently 16 and will received a lump sum of over $450k from a settlement to his heirs. She has full access to the money the day she turns 18.
The money is currently in CD's ( this was mandated by the courts as a condition of the settlement).
She has no clue yet this is coming .
However, at some point in the near future we will need to broach the subject.
I have always taught her about frugality and responsibility and avoiding debt and how investments work.
Any advice on how and when to tell her?
Anyone ever experienced anything similar ?
Any good literature on the subject ?
Thanks for any input.
The money is currently in CD's ( this was mandated by the courts as a condition of the settlement).
She has no clue yet this is coming .
However, at some point in the near future we will need to broach the subject.
I have always taught her about frugality and responsibility and avoiding debt and how investments work.
Any advice on how and when to tell her?
Anyone ever experienced anything similar ?
Any good literature on the subject ?
Thanks for any input.
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