Being A Rich Heir Is Stressful

And the NYT is ONIT!!!

It was not until Mr. Lucas was 24 — long after he knew the trust could finance his Ivy League education — that he understood its full monetary value; that was when the Carnation shares were converted into cash after Nestlé bought the company in 1985. It was a shock, suddenly “having a pile of cash that you have no experience in investing,” he said. “That’s a very scary and risk-fraught transition.”

For many American families with wealth, the moment when their children learn how much money they have at their disposal causes profound anxiety. They fear that their children will not know what to do with the money and either squander it or not work as hard as they might otherwise.