Reply to Why do so many of you NW adults have Trust Funds or get parental help?

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[quote=Anonymous]People tend to do it for tax reasons.  If your parents, or family, have more money than they can spend in their lifetime, the way to get around having to pay high estate related taxes is to set up trusts and give annual tax free gifts.  I have told my parents that they should spend all their money.  They have told me that have more than they can spend. I invest the money they give me in case they are wrong and need help later on -- though I don't see how that will be the case.

Also, while many of you are looking at the issue as being parents who have money, for many people they look at it as family money.  My parents did not make all the money they have, a good chunk was passed on to them.  It will then go to me, and I will pass it along to my children.  Each generation tries to grow (or at least maintain) the fund.  It is family money, my parents, and one day I, are just stewards watching it for the next generation.
Avoiding estate taxes is the ultimate first world problem.[/quote]

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