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Old 07-27-2007, 09:34 PM
 
Location: Happy wherever I am - Florida now
3,359 posts, read 10,911,567 times
Reputation: 3838

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For god's sake if you're going to leave your kids any money make sure they know how to handle it. The current bf, who inherited a boat load of money and is downright stingy with it in order to make sure his two kids get it, has the two worst loser kids I've ever met. They're nearly middle aged and have never accomplished a thing in their lives in anticipation of the windfall. The entire sum wil be blown in 24 hours, I'm betting. If you do expect to leave money, don't tell them ahead of time.
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Old 07-28-2007, 06:18 AM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,479,274 times
Reputation: 8777
Quote:
Originally Posted by Sgoldie View Post
For god's sake if you're going to leave your kids any money make sure they know how to handle it. . . If you do expect to leave money, don't tell them ahead of time.
Excellent advice. They should not be relying on mom and dad's death for the 'pot at the end of the rainbow'.
I get so annoyed at counsellors in high schools telling kids with no real life experience to 'follow their dreams', setting most of them up for heavy debt and disaster.
Dreams are usually your hobbies, if you can afford them. Dreams can change over time. Don't count on people paying you for doing your hobby.
While our kids are believing this garbage, kids in Asia are working hard at math and engineering and expecting to get paid less than we. They know the score, and they know their competition is no longer from kids in the US, but from among their own. This sort of competition makes their schools excell.
No, money rewards behavoir, and if your kids have been reared to be slackers, leave your money to charities where at least it will do some good.
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Old 07-28-2007, 02:20 PM
 
13,319 posts, read 25,561,639 times
Reputation: 20505
I don't have kids and don't plan to adopt any. I've listed several organizations as my beneficiaries, whenver the time comes. I don't understand why people think they must leave anything primarily to relatives, such as, some distant nephew or something. There are people in everyone's lives who matter, and who might really benefit from an inheritance. How about the hairdresser's daughter's college, or a helpful neighbor? Why must it be some relative?
For what it's worth, several animal organizations, American Jewish World Services, a veterans' organization,and the local library will benefit from my demise, even as they've benefitted from me living and working and donating.
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Old 07-28-2007, 05:06 PM
 
Location: Home is where we park it.
3,098 posts, read 8,349,863 times
Reputation: 3185
As long as we don't leave any burdens for our kids to pay when we die, we have done what we need to do. If they want money, they can do what we did...WORK for it. Liz
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Old 07-28-2007, 05:10 PM
 
Location: Earth Wanderer, longing for the stars.
12,408 posts, read 16,479,274 times
Reputation: 8777
Quote:
Originally Posted by brightdoglover View Post
IFor what it's worth, several animal organizations, American Jewish World Services,
a veterans' organization,and the
local library will benefit from my demise, even as they've benefitted from me living and working and donating.
Yes, I have some favorites, too.
National Public Radio, for unbiased and BBC news articles
Animal welfare organizations, we need more legislation to protect animals,
especially pet animals.
Project Innocence, to right the wrongs that our justice system has
committed on innocent people.
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Old 07-28-2007, 08:20 PM
 
777 posts, read 2,464,655 times
Reputation: 637
To each their own. In mine and my wife's case we would like to leave as much as possible to our two children. If we have to skimp on things so be it. By that I mean, if we decide to travel we can fly coach instead of first class and so on. God willing our goal is to be able to pay for their collage education and but them each a starter home.
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Old 07-29-2007, 11:00 AM
 
298 posts, read 602,691 times
Reputation: 496
Default leaving $ to kids

We don't have a lot and made the decision to have one child to whom we could give as many benefits as possible. We helped with college so he graduated debt-free. Gave a good sum toward his wedding and assisted with the down payment on his first home. He and his family can had whatever is left after we're gone but in the mean time we're spending on ourselves (and on the two grandchildren).
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Old 08-02-2007, 04:42 PM
 
414 posts, read 1,469,631 times
Reputation: 170
For those of us lucky enough to have more money than we can possibly spend (this does not include me and mine!) I would lock it up in a trust until they are thirty. That way they have to fend for themselves and will hopefully have better judgment when they are more mature.

As for us, we're living our lives the way we wish and if there's anything left they'll be lucky. :-D
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Old 08-06-2007, 02:42 PM
 
702 posts, read 2,892,767 times
Reputation: 443
Quote:
Originally Posted by aussiegal View Post
How are you doing it? And what about the kids who could be helped with something down the road?
We don't make enough money to worry about leaving something for our kids. We have helped them while we both worked. I had to retire early on disability and that doesn't leave a person with a large income. They will have to fend for themselves just like we did all our lives.
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