El Cid Posted July 24, 2014 Share Posted July 24, 2014 I am nowhere near the league of these people with their massive fortunes, call me old fashioned, but I will certainly be looking after my children rather than some fat cat CEO of a charity. I think the point is that children need a desire, a drive in order to motivate them. My daughter asked me if I was buying her a car when she was 18. I said no, she will need to do well at school and earn her own way in life. So its not that important who you leave your money to when you die, but it is important that your children have the drive to look after themself. Link to comment Share on other sites More sharing options...
Olive Posted July 24, 2014 Share Posted July 24, 2014 Probably the celebs that the OP is talking about feel that their children are doing pretty well already. They've likely had a great start in life, have had opportunities few others get, and won't be destitute. Their parents will have spent more than the equivalent of a legacy already on their education, their homelife and upbringing in general. They will have friends and contacts that will go on benefitting them their whole life. They'll manage! For those of us with more modest backgrounds the prospect of an inheritance might make the difference in whether we can pay the bills comfortably, whether we could afford a mortgage / our own home or not, whether we will have a comfortable retirement ourselves. Both sets of parents are doing their bit to set their kids up for when they're gone. Also, for the mega rich with younger children, I totally get why people are reluctant to bankroll them to the tune of £millions at a young age. The temptation to go nuts, be reckless, and take no responsibility for making something of yourself in your own right must be huge. I would say that a massive payout has the potential to do more harm than good in some cases. A £100k legacy will enhance your life but doesn't have the potential to destroy it. Link to comment Share on other sites More sharing options...
Mecky Posted July 24, 2014 Share Posted July 24, 2014 What money? What children? Link to comment Share on other sites More sharing options...
altus Posted July 24, 2014 Share Posted July 24, 2014 You have misread my post, altus, this topic is about those "celebrities" who have declared that "not a penny will go to their children". As Cyclone pointed out, Sting shouldn't be on that list. I'd wrongly assumed the others were as well. The answer to your second question is yes. The amount is irrelevant, I would rather they have it than a bunch of strangers - wouldn't you? As long as any kids I might have were sufficiently provided for then no. Link to comment Share on other sites More sharing options...
john carr Posted July 24, 2014 Author Share Posted July 24, 2014 As Cyclone pointed out, Sting shouldn't be on that list. I'd wrongly assumed the others were as well. As long as any kids I might have were sufficiently provided for then no. It's not my list, altus and Cyclone - it was given out on the wireless by the disc jockey. ---------- Post added 24-07-2014 at 20:37 ---------- Probably the celebs that the OP is talking about feel that their children are doing pretty well already. They've likely had a great start in life, have had opportunities few others get, and won't be destitute. Their parents will have spent more than the equivalent of a legacy already on their education, their homelife and upbringing in general. They will have friends and contacts that will go on benefitting them their whole life. They'll manage! It's a nice sentiment, Olive, but please don't make excuses for these mean, self obsessed celebs. Link to comment Share on other sites More sharing options...
phantom309 Posted July 24, 2014 Share Posted July 24, 2014 Our will,s have been draw up several years now and both children will receive 30% and our four grown up grandchildren will each receive 10% of the surviving spouses estate. So none to charity as we give fairly regularly now. Link to comment Share on other sites More sharing options...
Se7enhills Posted July 24, 2014 Share Posted July 24, 2014 My kids are still fairly young, and Im not intending going anywhere just yet, but I intend to make sure they have a flat/house/whatever for each of them when they are in need of one When I can I already give quite a lot to my charities of choice Link to comment Share on other sites More sharing options...
buck Posted July 24, 2014 Share Posted July 24, 2014 I intend to use up all the equity in my house by the tiime I die. If there's a lot left, which I doubt I'll leave it to the nurse who picked up my bed pan, or sneaked in the Canadian Club every night and got rid of the bottle after. Leave it to my family? Never in a million years. Let them learn for the first time in their lives that it never did grow on trees or in my pocket. They may have been born in America, but they have the misfortune of having a Yorkshireman for a Grandpa. Link to comment Share on other sites More sharing options...
Mecky Posted July 25, 2014 Share Posted July 25, 2014 My kids are still fairly young, and Im not intending going anywhere just yet, but I intend to make sure they have a flat/house/whatever for each of them when they are in need of one When I can I already give quite a lot to my charities of choice That's strange, why did you say charities of your choice and not just charity? Link to comment Share on other sites More sharing options...
Bonzo77 Posted July 25, 2014 Share Posted July 25, 2014 My kids are still fairly young, and Im not intending going anywhere just yet, but I intend to make sure they have a flat/house/whatever for each of them when they are in need of one When I can I already give quite a lot to my charities of choice Just so you know; if your kids haven't got any savings of their own, there's a good chance that they will get turned down for a mortgage, regardless of the size of the donation they receive from their family. Lenders like to see a good 6 months of regular savings. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.