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Eldercare
Reply to "Parents being flippant about inheritance - is it a trend?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My parents don’t have a penny to leave me but I’m self-made rich. I’m totally baffled by people who spend it all. How can you really think it’s “yours” when it was a generational gift?h I hope my kids see it that way when they inherit from me. [/quote] They won’t. They will think that you were an atm machine made for their use. [/quote] Well I guess that’s why generation skipping trusts exist. [/quote] What? No. The point of generation skipping trusts is to benefit the grandchild AND the child while avoiding estate taxes. I’m not even sure this is a thing people still do, whether because of changes to the rules or the availability of dynasty trusts from Wyoming and such that have ridiculously long terms and stuff. Anyway the point is not really to “skip” your kids, it’s to avoid estate taxes. [/quote]
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