Reply to Husband doesn't want to leave our kids much in inheritence

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We are in the process of updating our estate documents and it has become very tense. Current investments are around $14M and our only debt is $400K mortgage and we will owe income taxes when we exercise our stock options (probably around $1.2M or so in taxes). Bottom line, we aren't going to run out of money based on our current spending so there will be a substantial amount left when we die.

My husband only wants to leave each of our 2 kids $2M each and the rest to charity. My concern is $2M seems like a lot of money, but when you consider inflation, who knows what it will be in 20 or 30 years. He keeps telling me he doesn't want his legacy to be making his kids wealthy.  I am struggling with leaving them such a small percentage of our estate.  Both my husband and I came from very humble background, and he basically wants our kids to have our same or similar struggles in life.  I am at a loss at how to counter this.

Anyone else grapple with this?
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We are approaching things similar to your husband. We paid for our kids' education and helped them with the downpayment on their first homes. We also set aside money for the grandkids' education. Each kid will end up with the equivalent of $2.5m in today's $$. The rest will go charitable causes.  [/quote]

again why did you earn it (no doubt at great sacrifice to your family) if you don’t want to give it to your family? don’t tell me you were effective altruists all along. I think people like you are frankly greedy and controlling about money and want to maintain that control from beyond the grave. it’s one thing to set up trusts to ensure the money is used wisely but another to go through life amassing a fortune then keeping it away from your kids. [/quote]

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