Reply to How many parents still financially support their middle age adult children?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]
Estate planning.

Taxes are the enemy of generational wealth.

Instead of waiting for a taxable inheritance, money is shunted down the generations throughout the decades.

It's the RESPONSIBLE thing to do.

I am not in that situation, but if I were, I would absolutely do the same thing!!!

[/quote]

This.  Parents who do this are not cutting back.  They have a lot and they use it wisely.  At some point it is only 50 cents on the dollar or less with estate taxes if they just kept it until death.[/quote]

+100

Kids and grandkids will also benefit much more from having it now than when they are 60 (kids) or 30 (GK).  I'd much rather ensure my kids do not take on debt to attend college or graduate school if I can afford it.  Same for Grandkids.  It's perhaps the single largest "gift" you can give---free education to set yourself up for a great future without loan payments. [/quote]

It's a great gift but most of the people I know in these situations aren't even hitting six figures. One of my friends is like this and she is so underemployed and dependent on her parents. It's kind of pathetic. Your parents have paid for school, wedding, cars etc. and you still can't figure out how to make decent money. Ridiculous. [/quote]

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