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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Our net worth is approaching $40M. Kids in middle and high school. Yes, I expect them to work and they’ve always known that. I’ve also been clear that they should not expect to inherit the lions share of our wealth. We’ll cover them through school but I’m not certain they’ll get anything after that and they know that too.

That much money was not meant to be inherited. [/quote]

Then what is the point of making that much money if not to pass down to your kids and their kids?  [/quote]

agree. that response sounds so dumb[/quote]

And I'm in a similar NW (about $35M, likely to be over $70-80M in a few years).  Our kids are out of college and finishing college.  They are forging their path in life, they know they have to work/create a life for themselves.  They also know they can choose to work in public service/non profits or whatever they really want to do and will have financial support if needed.  They have a great work ethic and are good members of society (volunteering, etc).  They also recognize their privilege and the fact their lives are 1000% easier than most people's.  Simply having college and grad school (if/when desired) fully paid for is something they greatly appreciate.  But they live well within their means and don't waste money.  As long as they do that, they will continue to received funds and a nice inheritance from us.  We expect it to last several generations---education for our kids, grandkids and beyond is important, as well as getting all medical needs and therapies met.  If we can help our kids and their spouses (none yet) have better lives by living closer to work and in a great school district (huge supporter of public schools still), that is awesome.  Knowing they dont' have to save as much for retirement or their own kids college is huge---remove that from the equation and your lifestyle improves greatly.

But we earned our $$$ ourselves, no inheritances for us, so we get to choose how it's spent (family versus charity) and while a lot will go to charity, we will work to ensure the next 2-3 generations (and hopefully beyond) have a very nice lifestyle.  It can last several generations if everyone uses it to supplement and has a great work ethic as well.  That is the goal and how the trusts are spelled out
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