Stressful life events are an important risk factor for psychopathology among children and adolescents. However, variation in life stress may be both stable and time-varying with associated differences in the antecedents. We tested, using latent variable modeling, a state-trait model of stressful life events in adolescence, and predictors of stability in the occurrence of life events, using a high risk sample of children of alcoholic parents and matched controls (n = 422). Variation in the number of stressful life events reported at any time point in adolescence could be separated into both stable and time-varying sources of variance, and stability in the occurrence of life events was predicted by parental alcoholism, parenting support, and adolescent temperament. These findings suggest that parental psychopathology, poor relationship with parents, and temperament contribute to produce stable stress during adolescence.