I'm no financial guru, but I'll pass along a concept I heard some smart really rich people are using for their kids: performance based trusts (or something like that).

The idea is, you tell the kid, "I have a lot of money I'm willing to pass along to you. But the amount you get will depend on your achievements. If you do well, I'll make you very comfortable. If you choose to be a bum, you'll get much, much less."

Then you set up goals for them. It encourages them to apply themselves which, in reality, is the best thing for them to do in the first place. I think a lot of people would have trouble motivating themselves to do their best (in whatever they choose to do) when they've got a pile of money waiting to be delivered to them.

Sounds like the amount of money you are talking about may not justify a full blown trust, but maybe you can still use the idea.

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