Reply to Ultra high net worth and how much to leave to kids

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Leaving them money to try to control them probably won’t work and neither will not leaving them money to try to control them.

Just do what you want with the money and your kids will turn out how they turn out tbh.

The bigger question you need to deal with is how much if any money you will give them while you’re alive and sitting there with all this money.

That’s so obviously more important than what happens when you die that I think you’re a troll. [/quote]

Most with that wealth start giving when alive simply to minimize taxes.  Might as well start saving in 529 for future grandkids once the kids are married/planning to have grands.  Just keep the kid's 529 open and invest yearly even before the grands arrive. 
[/quote]

NP - not high net worth but on board with this sentiment.  My parents became very well off post-retirement and I'd be happy if they would pass their wealth on to my kids, since I'm old enough to be comfortable and don't really need a windfall now.  It's too early for you, OP, but I would say the real goal should be setting your kids up to be debt-free in their 20s and [i]their[/i] kids to be well looked after.[/quote]

DP. The issue we struggle with is if you gives kids too much money when they're young (20s), you can have a failure to launch. I had a friend like that. Trust funder, and every year he came up with some new wacky idea for a business that of course failed because you don't hustle when you don't need to. I just Googled him -- looks like his latest venture is some organic healing patch or some nonsense.

The best we came up with on advice from our financial planner is their college + expenses are fully paid for, then they get lump sums every 5-10 years, but I'm still not happy with that. Will they become lazy if they know the next tranche is 3 years away so why work towards anything in the meantime? Our kids are young enough where I can't really predict personality-wise how it will shake out.[/quote]

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