Reply to Mom leaving children out of will

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I know that generation skipping has become "a thing" but I don't really understand the reasoning behind it. People never used to do it that way.  Is this a tax a thing?

Personally, I feel that any money should naturally go to your adult children and it will be the adult children who will hand down to your grandchildren (their children).

Why muddy the water?

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It’s because people are living longer. My parents are in their 70s and their parents are starting to pass away (both have one surviving parent). My parents retired 5-10 years ago and don’t need the money now. Giving to grandkids helps skip this problem.

People need to start rethinking wills. Money should ideally be passed along the way, not some huge amount you get when you’re elderly already. It would be better to pay for kids colleges, weddings and down payments instead like the rich do. Instead middle class parents are making kids take on debt and then leaving money later. [/quote]

If a parent leaves their 70 year adult child an inheritance then the adult child would leave an inheritance to their own children and so on and so forth.

Ultimately it's the parents' money to do with as they see fit.  But a grandchild's big wedding is more of a want than a 70 year old person's need for help with yard work, house keeping, etc. is.

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The 70year old kid already saved plenty for their retirement and is done saving for that. Whereas the money would mean the 30 or 40 year old grandkid can have more kids, pay for their kids college, afford a home in a school district. [/quote]

The grandchildren are young and able bodied and can still work.  The 70 year old is usually not still working.  And most people lose their parents when they are in their 50's and 60's anyway.  Most 70 year old people do not still have living parents.

But the bottom line is, it is the parents' money to do with as they please.  If they want to skip over their own children and leave money for the grandkids, instead.  They can do it.  I, personally, would prefer to leave to my next of kin which would be my children.

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