Reply to Ultra high net worth and how much to leave to kids

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[quote=Anonymous]Consider that charitable bequests which occur after your demise may be going to organizations whose missions, management, efficiency, and effectiveness may change over time, potentially to the point of not being at all what you had in mind at the time you wrote your estate plan.  Once your money is out of your family's hands, it's gone forever, no matter how the charity changes, how the world changes, and how the needs of your heirs change.  In other words, there is substantial risk when you give away money that it may not be used in the way and for the purposes you had in mind.  Maybe that choice is more sensible if you know for certain that your heirs are spendthrifts with poor judgment, no ambition, no impulse control, and easily swayed from a righteous life by an increase in income or assets, etc.  But, barring those circumstances why take the assets out of the reach of your family?  Will they not seek to do good with their resources even if they also enjoy more financial security and more comfortable lives than they would enjoy otherwise?  Is there something bad about being financially secure in the face of life's uncertainties? [/quote]

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