The Prodigal Son Approach: Advancing an Inheritance While You Are Still Alive

This question has been trending and on the rise: “Why wait until we’re gone to help the people we love?” Nick explores the “Prodigal Son” approach, advancing an inheritance while you’re still alive, and why it’s becoming more common. You’ll also hear how generosity today can be done thoughtfully, without creating unintended problems tomorrow.

Here’s some of what we discuss in this episode:

🎄 Seasonal Update: Winter Sports and Year-end planning

💸 Inheritance Advance: What it actually means for you

⚠️ Pitfalls: Fairness, documentation, and family tension

🧾 Ways to Do It: Let’s take a look at gifts, loans structured options

⚖️ Legal Planning: Protecting everyone involved

Go inside the episode:

0:00 – Intro & Seasonal Updates

3:52 – What is an “Advancing Inheritance?”

6:18 – The Benefits & Reasons

8:14 – Considerations and Potential Pitfalls

19:17 – Methods of Advancing Inheritance