Guess I am poor but what is “partial interest games”?

We believe in generational wealth and our goal is to educate our kids to grow and manage it, and pass it on to the next generation. We come from old money, and fortunes have ebbed and flowed in our families, so we take the *very* long view.

This really is a financial planner questino, but we have ours set up so that there will be a trust established to fund all education costs, then the rest they get in chunks at 25, 30, 35, 40.

Could you do #1 and 2?

Anonymous wrote:

Anonymous wrote:Troll. If you’re really wealthy your family office should be managing this, not strangers on dcum.

Unless she just wants to brag.

Besides we all know she’s leaving everything to the kids.

The jealousy on DCUM is so pathetic and uninformed. They said they are self made rich - family offices are usually from generational wealth and are set up to ensure that generational wealth lasts. Read OP’s post again. Why would she want to pay money for a family office when they have no desire to raise a bunch of Paris Hiltons?

Anonymous wrote:Troll. If you’re really wealthy your family office should be managing this, not strangers on dcum.

Unless she just wants to brag.

Besides we all know she’s leaving everything to the kids.

I think a million each is a good amount.

Troll. If you’re really wealthy your family office should be managing this, not strangers on dcum.

Anonymous wrote:Leave enough for them to do anything, but not enough to do everything.

This is really wise.

At minimum: pay for college & graduate school, wedding & a starter home in full.

Anonymous wrote:Seriously, OP, you have that much money and are crowd sourcing your estate planning on a silly site like DCUM?

TROLL

Op here. Yes, I am. It is a data point and not as biased as any of the other parties I could ask.

Seriously, OP, you have that much money and are crowd sourcing your estate planning on a silly site like DCUM?

TROLL

And don’t leave them enough to do nothing.

Leave enough for them to do anything, but not enough to do everything.

Dh and I are extremely fortunate and currently have a net worth in the upper 30s, all self made, although our parents provided some help for college such that we were able to borrow just the federal student loan max for our state schools. We are in our mid 40s.

We have 3 kids currently in middle school. We do not believe in generational wealth. I’m inclined to provide them whatever they need to finish school (wherever they want to go and for as high a degree as they want, inclusive of room board and incidentals). DH would like to leave them something more but not the majority of our wealth. We have another $12M in life insurance so if we died tomorrow each would inherit roughly $17M.

If we died before they graduate college we would keep everything the same until they graduate and then they would receive their inheritance.

The question is how much to leave them each after education expenses and living costs through college in todays dollars?

Our current thoughts are one or some combination of the below:

1) $1M each
2) a family trust for education so that future generations don’t have to worry about college costs (this would obviously benefit our kids).
3) the max that we can leave not subject to estate taxes without playing gifting of partial interest games. We recognize that this figure can change. We are sorta indifferent if the number stays the same or reverts as current scheduled.

Everything above what we leave them we will donate.

Thoughts?