10-19-2020, 08:45 AM
(10-19-2020, 06:43 AM)NilesMike Wrote: Additionally, I am not sure that leaving a lot of money to descendants is necessarily a good idea. IF I were to do it, there would be strings attached to the money. One example is that they could only access money equal to what they earned for the past year.
Indeed.
One way would be to indeed only get the same amount as your salary is.
Another way could be to simply have access to the dividends (so a pretty decent extra income but nothing major) until X years old. (and X being something where a person is a true adult, not 18 or 20.)
Another thing that I've noticed with these is that inheritance usually hits when you're 40-60 years old. Now for most that means that they have a decent job that pays their bills, there might be a mortgage but it won't be big, the car and other major things are probably more or less paid for. This is not when you really need the money. You need it when you're in your early 20s, working on an entry level job, living in a rented apartment, when you have your life ahead of you.
Something also to consider.