As the saying goes, it's a pity to die poor but it's total insanity to die rich. I firmly believe that with the proper planning, there will only be enough money left in my estate to pay the funeral home. If I plan it well, that cheque should bounce.
Coming from my experience, seniors of my parents generation have most of the savings in our banks and they are now living well into their 80s and 90s. What kid of theirs, who is probably also retired, needs an inheritance at that age? Help the family while you can see the benefits, but do it with as much wisdom as you can find. Set up education funds for the grand kids, help get the kids into houses, or vehicles, then let them work things out. Beware of the bail-out black hole though. There is no returning from that one.
My thoughts
