Reply to How much is considered generational wealth?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My grandparents passed away with about a 65m estate. It was divided up amongst the 6 siblings equally with a large chunk going into a charitable trust. each kid got about 7M (with the rest to charity). On top of what my parents had, yes they are totally fine but once they pass that will get split up between 3 of us. So let's say they have 10M, we each get 3M.

Is that life changing, of course, does it cause me to be a waste, no. 60M trickled down to about 3M for me..If my grandparents weren't as charitably inclined, the amounts would be higher but I think that is the most valuable lesson I learned.

To answer OPs question, I think my grandparents fit the bill for generational wealth transfer, but it all depends on how many heirs, charity etc. If my mom was an only child, then of course we'd be set for life..

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Good point.  If, on the other hand,  your grandparents had set up a perpetual trust with the stipulation that no more than 3% of the estate was to be distributed each year and it should be equally distributed between people who are direct descendants over the age of 30 and should not exceed 100K (say) a year per person (create your own rules).  Index that for inflation.  The 65M would have earned $3.9M (at 6%), had $1.95M available for distribution but only had to distribute $600K in the first year.  Depending on when this started, it would have grown substantially over the past decade and should be able to accommodate new members being added for a very long time and for many generations, don't you think?  [/quote]

I clearly simplified this but that was not their wish.  A huge chunk went into a family charitable trust that we control in perpetuity. Each generation was given a flat amount outright, then the bulk was in trust for the beneficiary of each of the 6 adult kids.

My primary point was the size of your family clearly impacts the amount required to maintain "generational wealth." [b]Will any of our family members go broke, [u]obviously not[/u]. [/b]They have all been successful in their own careers so the inheritances are more for  philanthropy, education and security for the next generation.

The more important thing we inherited was the idea of philanthropy. We were shocked when 15m+ went into a charitable trust instead of to the family, but we also realize this was a phenomenal lesson for all of us and will trickle down to all generations.[/quote]

That's the literal definition of generational wealth, you ingrate.[/quote]

[b]How was I being ungrateful?[/b] I never expected a dime at my age. It's helped us front load our college funds so we don't have to worry about that. I am beyond grateful..

[/quote]

There are none so blind as them that cannot see.  
[quote]60M trickled down to about 3M for me..If my grandparents weren't as charitably inclined, the amounts would be higher. . .
If my mom was an only child, then of course we'd be set for life..
My primary point was the size of your family clearly impacts the amount required to maintain "generational wealth."[/quote]

And "I never expected a dime at my age" is not impressive.  You clearly felt entitled to the money at some point, or you wouldn't have been "shocked when 15m+ went into a charitable trust instead of to the family."[/quote]

I don't need the money..but name anyone who wouldn't be shocked to see $15M go into a charitable trust? Shocked does not equal mad. I am proud of my grandparents for doing this.

Stop sounding so judgmental or jealous. [/quote]

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