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[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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Presumably the 70 year olds have saved enough money to pay for their own lawn care. [/quote]

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