Adult Children and Money
Probate and Property, September/October 2004, Volume 18, Number 5
By Jon J. Gallo and Eileen Gallo, Ph.D.
Jon J. Gallo is a partner in the Los Angeles law firm of Greenberg Glusker Fields Claman Machtinger & Kinsella LLP and chair of the H-2 Psychological and Emotional Issues of Estate Planning Committee. Eileen Gallo, Ph.D., is a psychotherapist in private practice in Los Angeles and vice-chair of the H-2 Psychological and Emotional Issues of Estate Planning Committee.
Fifteen years ago in Probate & Property, an article entitled Estate Planning for the Postponed Generation examined the then new phenomenon of estate planners counseling clients with children in their twenties and thirties who were emotionally and financially immature. Jon J. Gallo & Eileen F. Gallo, Estate Planning for the Postponed Generation, Prob. & Prop. 7 (Sept./Oct. 1989). The title of that article was based on Susan Littwin’s sociological analysis of American youth, titled The Postponed Generation: Why American Youth Are Growing Up Later, in which she observed that many children born in the 1960s and 1970s took a decade longer than any prior generation to assume adult responsibilities.