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Money and Finances
Reply to "Ultra high net worth and how much to leave to kids"
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[quote=Anonymous]As an adult “kid” from one of these families, you all dramatically overestimate the extent to which restricting a trust in just the right way could change a person’s priorities. The people who really struggle continue to really struggle whether they have the money or not. The people like me who use it to work less or not at all (I’m a SAHM) were not on the cusp of career greatness. Without it, I’d just be making power points somewhere. Nothing important. The main thing it does for me besides letting me stay home for several years with babies is provide a backstop for major expenses involving kids and tragedy. Illness, disability, death. I don’t worry about the financial side of those things because I know I could tap the multi-generation trust. You can’t control your kids and grandkids from the grave with perfectly worded trust rules and really, what’s the point? You’re dead. [/quote]
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