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Reply to "Ultra high net worth and how much to leave to kids"
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[quote=Anonymous][quote=Anonymous]We had no generational wealth. Three kids. One did not launch. It’s not always about the money. Again, you’re not going to die until they are well into adulthood. [/quote] And if you do, you can put plans into place so kid cannot get access if they "don't launch". Typically you distribute funds at key ages, or for key events. I would not give full access until age 35 for multi millions. But would put plans in place to access for education, medical, first home, etc before then. We have put this all in place for our estate, should something happen to us before kids are 35. And not launching often has nothing to do with the parents---one of 3 kids, 2 of us are successful, responsible adults. The other did launch, but is terrible at financial management and always feels the issues are everyone else's fault, not recognizing that they have made terrible choices along the way and cannot define "need vs want" very well for a career that typically pays less. Yet we all 3 grew up in the same household, Poor/lower income all of our lives, so we know how to live frugally and still have all "needs" provided for. [/quote]
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