Man Over Board

Your Will – Don’t Leave Money for your Kids?

The family of Wellington Burt is in the news. He was a wealthy multi-millionaire from the early 20th century. He decided NOT to leave any money for his kids or even his grandkids. Instead, all his money was left for anyone from his bloodline still living starting 21 years after the death of his grandchildren. Now that’s different!

Leaving money for your kids in your will is always an interesting topic, because there’s conflicting impacts from doing so. There’s the feel-good result of knowing you were able to leave something behind for your kids to make them better off, but then there’s the other possible un-intended results of 1) your kids anticipating when you’ll kick the bucket so that they can get their money, and 2) your kids being lazy and un-motivated if they know they have money coming.

Apparently this guy Burt didn’t want the latter consequences. Either that or he thought his kids were schmucks…. I think I’ll leave my dough for my kids regardless, what about you?

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Posted by on May 12 2011 Filed under FEATURES, MONEY. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

9 Comments for “Your Will – Don’t Leave Money for your Kids?”

  1. I’m working really hard to spend all their inheritance. They need to make their own way. Like we did.

    Have a terrific day. :)

  2. When you don’t have any money, it’s easy to take it with you.


  3. If we have anything left, my son we’ll get it all, as long as he lands on “Free Parking.”

  4. Denis

    Children should be taught to earn and not leave them a fortune.

  5. Finally come across your great travel blog, I’m going to add to my Google reader!

  6. Sesalnik

    I work a regular job and an afternoon own company, mostly because i want that my children will be able to live normally. The world today does not allow them this.

  7. I just recently found out that we have a bank account for a very large sum, but today I had already have a lot of money and the parents money I do not need:) if knew that the have money before, probably would not have wanted to achieve something in life.

  8. Builders in Chester

    Leave money in this day and age all most people will leave are unpaid bills.

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