And I would agree with you. No way is it essential, for me however it’s just trying to adjust the arc of my financial life in an effort to build generational wealth. Akin to hoping to win the lottery someday, children should never build their own portfolios around someday, possibly, maybe, obtaining an inheritance. Thus, the critical step (#3) of helping your children build their very own wealth.
We’ve got too many idle rich, as it is.