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[quote=Anonymous][quote=Anonymous]My partner and I have debated this heavily. Our parents paid for college so we had no loans, but otherwise we had to figure it all out ourselves. Our careers did very well and our (now young) kids would each inherit 10M by default, but that would probably just mess them up really bad. We both know plenty of helpless trust fund babies.

We want to pay for college, but I'm not sure about house down payments. We want our kids to live within their means and have careers of their own. Unless they grow up to be very responsible and successful themselves we plan to just donate our fortune to charity instead of leaving the kids millions. [/quote]

We are similar and we realize it's good estate planning to start transferring assets to our kids...but we absolutely refuse to provide money based on a life decision like buying a house or getting married or sending their kids to private school.

I will admit that I have feelings about all these things (well...pro-marriage in general if they find the right partner).  For example, many of these posts talk about giving kids a down payment when they are in their early 20s.  I lived in 5 different places in my 20s, receiving promotions and better jobs along the way...I think it's a huge mistake for a kid in their early 20s to own a place and potentially limit their career progression, so I wouldn't give above-and-beyond what we are currently providing for this.

My kids also attended public schools, graduated from top 10 colleges and have great jobs.  If they want to send their own kids to private school...have at it, but we didn't make that choice and we live in a city (yeah, application schools...but many cities provide this choice).

Which is all to say, I don't get why I would treat one kid who decides to rent (and invest their money) and send their kids to public school differently than another who decides to buy and send their kids to private school.  Unless I have reason to believe one of the kids will waste the money on gambling or drugs or whatever (whatever could include deciding to quit their job because they think they no longer have to work), I will transfer money to them as part of wise estate planning and they do what they want with it (and both are quite responsible).[/quote]

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