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I partially agree. I don't expect any money from my parents when they pass. If they give it, then I'm not going to complain, but it's not money that I earned/saved. I would like to see them use it and enjoy their lives. If they want to pass it on to me or their grandchildren, then great, however I won't be upset if they don't.
Our Will is drawn up in a way that if we should die early, then our kids have some money coming to them, but not all at once. (Just in case we die during their stupid phase). However at this point we are teaching them the correct way to deal with money so that any inheritance will not be a curse on them. Too much money without the knowledge to use it is as dangerous as no money at all. (my opinion).
John |
02.10.09 - 9:44 pm | #
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John: One's last will and testament is pretty serious and deeply personal. What someone chooses to do with their assets is completely up to them, be it donate it all to charity or leave something for the kids. I don't believe most people believe that. I think a lot of people feel entitled to their parents/relatives money and assets.
You're phrase about dying during their "stupid stage" makes me laugh. Again, you know your, and your family's situation best and think it's a great idea to teach them fiscal responsibility so they can manage what will be given to them.
I disagree with you that not leaving them any money at all would be "dangerous," especially if you've given them to tools and knowledge to create their own financially stable lives. I'm not sure if you ment that sentence to be general or if it was specific to your family.
Velvet Jones |
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02.11.09 - 9:11 am | #
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I only meant leaving the money could be "dangerous" IF they didn't have the tools and knowledge to be responsible with it.
John |
02.11.09 - 10:12 am | #
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I completely agree. I have no inheritance from my parents because they were poor. Now, because I've learned to work hard and save, I'm in the process of becoming wealthy. I don't owe this to my children, and I feel a large inheritance could sabotage their future. I am also a Christian and I don't think Jesus ever gave a commandment to leave money to your children, so I don't understand that comment at all!
Chuck |
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02.12.09 - 10:55 am | #
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Chuck: I'm curious, if your parents were middle class, or even wealthy, do you believe your expectations would different? My parents are poor, but firmly working class. Coming up in that background, I didn't expect to get anything because there was not much to get. If my parents were more well to do, maybe my outlook would be different. However I think it also depends on your values. I can see the point of you and John saying that a large about money could create more problems than if they had gotten nothing. So I'm curious Chuck, do you plan to leave anything to your adult children? As far as what Jesus says (or doesn't) about inheritences, as a non-believer, I'm going to have to take your word for it. 
Velvet Jones |
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02.13.09 - 12:47 pm | #
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