Inheritence

Thoughts biz? What's with people these days not leaving inheritances? They give the money to """""charities""""" thinking that they make a difference when they actually line the pockets of executives. I dont get the "make kids tougher" rationale I mean the kid will likely never be as rich or successful as the parent, and the parents don't seem to get that so they """""donate""""" the money where most of it gets wasted. Why not just leave the money and wealth and power for your own flesh and blood? Isn't that the genetic purpose of life? Have heirs which then bang 20 hotties and continues your bloodline?

I don't get it either. Don't you want your empire to live forever? Once you're dead, only the name remains.

I think I get the principle. It's mostly rags-to-riches kind of guys who partly attribute their success to tenacity in the face of hardship - I guess they reason that they worked hard because they were poor, not despite being poor, and they want their kids to follow the same journey.

I don't believe that wealth necessarily breeds complacency though, not if you teach the kid right. I for one intend my kids to have better childhoods and more opportunities than I ever did. Isn't that the point?

Bit extreme to do that shit. I'd leave half to my children and half to charity

>worked hard, sweated blood whole life
>when die, give all money to strangers, force kids to go through same struggle
t-thanks dad

>not leaving your kids a trust that pays full time min wage equivalent every year
Master troll

I'm split on this issue. On the one hand, leaving your kids an enormous trust fund will very likely spoil them and leave them not wanting anything more than to spend Daddy's money. On the other hand, leaving your kids no money at all puts them at a significant disadvantage and could leave them in a poverty that could have otherwise been avoided, had the parent gave them some money as starting capital.

I get the whole "making your kids" stronger attitude, but not all hardship strengthens people (and not all people can be strengthened by hardship). Hardship can and does break people, destroys their ambitions, and leaves them in a hole they'll never climb out of.

Perhaps the best option lays somewhere in the middle. Leave your kids money, but challenge them, prepare them for the world, and leave them wanting more out of life than the modest amount of money you gave to them. Which is a much more difficult thing to do than simply forbidding your kids from having any of your money.

What charity would you leave it to Veeky Forums?

I would probably leave it to International Rescue Committee.

Because I'll be dead and not care, much like it was pre-birth.

That may change IF (a big if) I have kids. Still don't follow the "muh legacy" shit.

Trips of truth. You have 30-40 years to raise your kids the right way. You'll know by the time you die if your kids have turned out right, an inheritence won't change that. Raise your kids to value hard work and delayed gratification.

because they dont have faith their children will overcome the vapid materialist brainwashinf that pervades modern society.

because they see the children of their wealtht peers become utter twats and come to the sad conclusion that sink or swim scenario is the only way to protect their children from a meaningless life

at least spend that shit if youre not going to lock it up for your children. i know i wouldn't have any respect for my parents if they threw it all away to charity, but i would understand if they used it for themselves.

>charity

You would need to diversify, have many charities and give a little to each. Higher risk giving all to just one charity

I'm completely with you here. I think making kids tougher depends more on not spoiling then as kids rather than whether they'll have millions of dollars waiting for them later in life. And donating to charities is wasteful in general, let alone when you should be helping your future offspring.

I worked my ass off and hated it. When I retired early, I noticed I was happier, had more time to take care of my kids, aged MUCH smoother and was able to work on my hobbies that I am far more passionate about then work.

Who the FUCK would curse their child to a life of wageslavery if they didn't have to?

They put money in tax haven charities for which their children are the chairmen.

They know fiat is dying, they are not giving it to charity they are investing in BTC - just not telling the goyim.

>mfw the real reason is they are giving to a front organization for a secret Mars colony cos they know the earth is going to be destroyed.

This is what some of the wealthiest are doing I think.

This is acceptable and a good idea.

Anyone else who's been memed into giving their money away to charity is cucking themselves.

This desu

Just tell them that you won't be giving it all to them and then actually do.

This.
Also nice timestamp.

Some countries have inheritance tax which takes away 25% of that inheritance.

Wealthy people would purchase things like real estate or invest in mutual funds to maintain that wealth. Sure, real estate and mutual funds also incur its own tax but shaving 25% off the entire inheritance is downright theft from the government.

I think both extremes are wrong.

Giving all your money to your kids without any control will spoil them. But not leaving them anything and giving all your hard earned money to a group of strangers is fucking idiotic.

What is the solution? A fucking Family Office. A group of people whose jobs is precisely, among other things, to ensure a good transition of the wealth for the future generations. They are experts in that stuff.

In my country (UK) it is 40% on everything over £325000. It's goddamn immoral is what it is.

I would leave just about everything to my kids, but ideally in a fund of some kind that they can't cash in on all at once and that they would ideally contribute to for their own kids, and so on.

You can buy funds that hold for 2-5 years, after that the funds are available to you again to do as you wish.

Or rather, if your kids are working age you could use a portion of the inheritance to put in a generous down payment on a good quality condo at an ideal location so that the rent covers the mortgage every month, you can purchase that condo under your childs name so that he can attain some passive income while he works an active job to save his own cash. The surplus your children give back to you for your 'loan'.

This strategy is good if you want your kid to be financial secure being on the property ladder, but also know the moral of work ethic. They wont be starving and they will be paying you.

Keep in mind that Ramsay is only 50 years old and his kids are already hitting teens. Barring any unforseen incident, he will probably live to see all his kids hit independence, and while he might not be leaving a ton to them in his will, I can't imagine he's going to deny them when they want to go to college and become doctors or master chefs or whatever.

I think the idea is that by the time he does die he'll have shepherded them into successful lives of their own.

I would probably give it to animal shelters. I have a special place in my heart for doggos.

Leave your fortune to your kids provided they fulfill certain objectives. EDM dj that does drugs every weekend and makes no money? No inheritance. EDM dj that has a large following and plays sold out shows? Full inheritance. Chef that works at Applebee's and smokes weed every day? No inheritance. Chef that owns a successful restaurant? Full inheritance.

>Work your whole life making money and paying 30-40% tax on it
>Have a large sum of money left over after 50 years
>Die
>Have to pay tax again on money you already paid tax on

Absolutely disgusting

i agree with what you said.
gordon ramsey worked hard and sacrificed for all he has and that made him who he is. i can see that he doesn't want his kids to turn out like Made in Chelsea people, the type of people he will see all the time.
i reckon he raises his kids well, they don't seem to be the type of people who will turn up as Rich kids on instagram.

when he dies his kids will be 40, so i think getting £30million when you are 40 is different from getting a black Amex when you're 18.

NWO has informed certain people of power of the impending force crash, and in order to curry favor for positions of power in the next world they are having them look like benevolent beings now as a justification for it later. In reality power curries power, and they dupe the public in order to play the game. In a world where everyone will be subscribed the same welfare, in theory, positions of power will carry more weight due to the hidden kickbacks.