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Poll results: Who would you leave your personal to?

Voters
12. You may not vote on this poll
  • Kids

    5 41.67%
  • Religious Institution

    0 0%
  • Charitable Organization

    1 8.33%
  • Pet

    0 0%
  • Political Campaign

    0 0%
  • I'm Spending Every Last Penny!

    4 33.33%
  • Other: See Explanation Below

    2 16.67%
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Thread: Who gets your MONEY (The Inheritance Thread)

  1. #1
    Cyburbian michaelskis's avatar
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    Who gets your MONEY (The Inheritance Thread)

    In a recent study, 45% of wealthy baby boomers said that they would rather leave their fortune to a charity than to their Kids. Apparently they want their kids to also earn their fortunes, which personally, sounds like a good idea as long as they install this idea, along with a good work ethic throughout their kid’s lives.


    This study went into further detail and numbers, but it made me think, if you were wealthy, would you leave it to your kids, or someone else?

    (I was going to post a poll, but for some reason it would not let me, can a mod fix that?)
    The possible responses would be:
    Kids,
    Church,
    Non-profit org
    Pet
    Political Campaign
    No One, I am taking it with me.
    "A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. Time makes more converts than reason." - Thomas Paine Common Sense.

  2. #2
    Cyburbian ursus's avatar
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    I am having trouble imagining that I would have anything to leave anybody when I die. Maybe a half a roll of butterscotch lifesavers and about $5 in my pants pocket.

    If I have anything, I will leave it to my children...no question. If I had a LOT, I would leave it to my children because I know that they would do with it what I would have done with it (various charities, etc.) I trust the little buggers.
    "...I would never try to tick Hink off. He kinda intimidates me. He's quite butch, you know." - Maister

  3. #3
    moderator in moderation Suburb Repairman's avatar
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    Wife (and/or kids if I had any). Then to a trust to provide long-term care to my special needs niece (severely disabled mentally). I'd like to think that I'd already done a trust like that before I died if I was that wealthy, so after that it would be a collection of my favorite nonprofits.

    "Oh, that is all well and good, but, voice or no voice, the people can always be brought to the bidding of the leaders. That is easy. All you have to do is tell them they are being attacked and denounce the pacifists for lack of patriotism and exposing the country to danger. It works the same way in any country."

    - Herman Göring at the Nuremburg trials (thoughts on democracy)

  4. #4
    Cyburbian otterpop's avatar
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    Quote Originally posted by ursus View post
    I am having trouble imagining that I would have anything to leave anybody when I die. Maybe a half a roll of butterscotch lifesavers and about $5 in my pants pocket.
    $5 in your pants pocket? Wow. Obviously your wife doesn't go through your pants pockets at night.

    As for my inheritance, all spelled out in my will. Wife gets the house and money. Son gets my "toys."
    "I am very good at reading women, but I get into trouble for using the Braille method."

    ~ Otterpop ~

  5. #5
    Cyburbian SW MI Planner's avatar
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    I am kind of a selfish a-hole in that I would only leave my money to my child if she works hard herself for what she has. Works hard doesn't necessarily equate to college, high dollar but miserable job but rather applies herself, and works hard to provide for herself and her family. If she's like certain family members that choose not to work because they don't want to, and continuously "borrow" or steal money from her family, than she won't get a dime.

  6. #6
    Cyburbian DetroitPlanner's avatar
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    Since I am single, its my nieces, St. Leo's Soup Kitchen, and the Ronald McDonald house at Children's Hospital of Michigan.
    We hope for better things; it will arise from the ashes - Fr Gabriel Richard 1805

  7. #7
    OH....IO Hink's avatar
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    Wife and kids. We will also make some donations to causes that we believe in when my time is done.
    A common mistake people make when trying to design something completely foolproof is to underestimate the ingenuity of complete fools. -Douglas Adams

  8. #8
    Cyburbian WSU MUP Student's avatar
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    If both my wife and I kick the bucket, all of ours is set to go to into a trust for our daughter. If only one of us go away, the money goes to the other. If for some reason our daughter is unable to accept the money, all of my nieces and nephews get some with the rest going to our church and a few local charities.
    "Where free unions and collective bargaining are forbidden, freedom is lost." - 1980 Republican presidential candidate Ronald Reagan

  9. #9
    Cyburbian Planit's avatar
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    Quote Originally posted by WSU MUP Student View post
    If both my wife and I kick the bucket, all of ours is set to go to into a trust for our daughter. If only one of us go away, the money goes to the other. If for some reason our daughter is unable to accept the money, all of my nieces and nephews get some with the rest going to our church and a few local charities.
    Ditto.

    I thought about adding one stipulation on the daughters college fund. If we are gone and she goes to college, she'll get it to pay all expenses. If she doesn't go she doesn't get it until she's 30. However, its fairly well instilled in our family that the college question is "which college are you going to" and not "if you go to college."
    "Whatever beer I'm drinking, is better than the one I'm not." DMLW
    "Budweiser sells a product they reflectively insist on calling beer." John Oliver

  10. #10
    Cyburbian Linda_D's avatar
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    I'm single and I don't have kids, so part of my estate will go to two of my brothers, two of my neices and my nephew, various charities, and the friends who will take my critters.
    If a free society cannot help the many who are poor, it cannot save the few who are rich. -- John F. Kennedy, January 20, 1961

  11. #11
    Corn Burning Fool giff57's avatar
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    As a public servant, I ask... what money?
    “As soon as public service ceases to be the chief business of the citizens, and they would rather serve with their money than with their persons, the State is not far from its fall”
    Jean-Jacques Rousseau

  12. #12
    Super Moderator kjel's avatar
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    Quote Originally posted by michaelskis View post
    In a recent study, 45% of wealthy baby boomers said that they would rather leave their fortune to a charity than to their Kids. Apparently they want their kids to also earn their fortunes, which personally, sounds like a good idea as long as they install this idea, along with a good work ethic throughout their kid’s lives.


    This study went into further detail and numbers, but it made me think, if you were wealthy, would you leave it to your kids, or someone else?

    (I was going to post a poll, but for some reason it would not let me, can a mod fix that?)
    The possible responses would be:
    Kids,
    Church,
    Non-profit org
    Pet
    Political Campaign
    No One, I am taking it with me.
    Added a poll for you
    "He defended the cause of the poor and needy, and so all went well. Is that not what it means to know me?" Jeremiah 22:16

  13. #13
    Cyburbian imaplanner's avatar
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    I don't make a lot of money so chances are I will not have much to leave- but I will probably leave it to a charitable organization.
    Children in the back seat can cause accidents - and vice versa.

  14. #14
    Cyburbian boiker's avatar
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    This question implies that I will have some asset to leave.

    My kids will get the assets, and at this point I don't care what they do with the bequeathed TV and 13 year old minivans
    Dude, I'm cheesing so hard right now.

  15. #15
    Cyburbian zman's avatar
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    I'm giving mine to Dave Ramsey...
    You get all squeezed up inside/Like the days were carved in stone/You get all wired up inside/And it's bad to be alone

    You can go out, you can take a ride/And when you get out on your own/You get all smoothed out inside/And it's good to be alone
    -Peart

  16. #16
    Cyburbian btrage's avatar
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    Quote Originally posted by zman View post
    I'm giving mine to Dave Ramsey...
    I like when zman posts.
    "I'm very important. I have many leather-bound books and my apartment smells of rich mahogany"

  17. #17
    Cyburbian michaelskis's avatar
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    I keep going back and forth on this. Right now, the kids get it all… but it has me wondering, even more so since we change our life insurance policies.

    In talking with a trusted friend about this, he likes the idea of conditional inheritance, but with an upfront baseline to ‘help’. For example, they would get 5% upon my death with increasing percentages based on particular personal achievements. (Becoming totally debt free, starting a business that turns a net profit of at least $50,000, completion of a range of particular classes, and regular meetings with a mentor)

    The bible says to leave an inheritance to your children’s children… but if they are a bunch of bums, the only inheritance they will get is a stack of books and a lawn mower. (Maybe they can start a lawn service business to redeem themselves).

    I will also help fund a few programs at my church, but I don't like to give where my money is put in a pool to cover debt payments until they agree to never borrow money again, and that won't happen.
    "A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. Time makes more converts than reason." - Thomas Paine Common Sense.

  18. #18
    Cyburbian stroskey's avatar
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    How much money do you expect to receive as an inheritance?
    I burned down the church to atone for my transgressions.

  19. #19
    Cyburbian
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    You can do all that with a trust. You can place all these stipulations on how and when the money can be used.

  20. #20
    Cyburbian michaelskis's avatar
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    Quote Originally posted by stroskey View post
    How much money do you expect to receive as an inheritance?
    Was that to me? I expect in inherent very little. My kids, or others, will inherit enough that I will need to figure out a few things.... even more if my wife and I die an untimely death.
    "A long habit of not thinking a thing wrong, gives it a superficial appearance of being right, and raises at first a formidable outcry in defense of custom. Time makes more converts than reason." - Thomas Paine Common Sense.

  21. #21
    Cyburbian stroskey's avatar
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    Quote Originally posted by michaelskis View post
    Was that to me? I expect in inherent very little.
    No, just in general. I have no idea what people inherit or what a normal amount, if any, is.
    I burned down the church to atone for my transgressions.

  22. #22
    Cyburbian safege's avatar
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    I'm in the little green line on the bottom right, third chart down.

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    Psychotics are consistently inconsistent. The essence of sanity is to be inconsistently inconsistent.
    -Larry Wall

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