Posted on 02/05/2026 3:59:48 AM PST by where's_the_Outrage?
Isabella and Lorenzo are siblings who have faced financial difficulties throughout adulthood. Both are in their 30s — Isabella’s a divorced mom of three, Lorenzo’s a married father of two — and they’re barely making ends meet. Let’s say they have only a few thousand dollars in savings between them.
She inherited a home and a substantial amount of money when her own mother died, making her a multi-millionaire, and she was also the beneficiary of a life insurance policy when her husband (Isabella and Lorenzo’s father) passed away five years ago. After her husband died, the mother sold the family home, which had greatly appreciated in value since they bought it 40 years ago.
That’s why Isabella was shocked when, on a recent phone call, her mother told her that she planned to spend every cent she had before she died — leaving nothing in her will to her two children. Her mother said she wanted to enjoy her golden years to the fullest and had crafted a “die with zero” budget that would ensure she spent all her money.
Isabella thinks their mom is being selfish, while Lorenzo is worried she’s being reckless. Should the siblings confront their mother about her retirement plans?
Some billionaires have famously declared that they won’t leave their substantial fortune to their children.
Laurene Powell Jobs, wife of the late Steve Jobs, intends to pass on her estimated $14.9 billion to charity. Mark Zuckerberg and his wife Priscilla Chan have set up the Chan Zuckerberg Initiative for research and intend to give 99% of their Meta shares away. Warren Buffett and Bill Gates have also famously stated that their children should make their own way in the world, with Gates noting, “leaving kids massive amounts of money is not a favor to them
(Excerpt) Read more at msn.com ...
Short answer is no.
SET UP AN ANNUITY FOR KIDS IN A SITUATION LIKE THIS.
THEY GET WHATEVER SET AMOUNT IN WHATEVER TIME FRAMES YOU WANT.
KEEPS THEM FROM BLOWING A LOT OF $$$$$$$$
TEACHING THE CHILD TO EARN & SPEND HER OWN MONEY IS THE GREATEST GIFT.
YOU NEVER GET TO PICK YOUR RELATIVES BUT IT IS A DECISION TO BUY LIFE INSURANCE-—IT ISM’T FREE NOR AUTOMATIC.
HER $$$$$-—NOT THEIRS
PERFECTLY STATED.
This decision depends on so many variables
One thing if it’s a big estate and taxes come in and beneficiaries are cool it’s best to disburse all you can before death
Not gonna be much of an issue for my kids unfortunately
Now that my mother has passed away, I’m managing my dad’s finances. I never knew she had invested $2218 in an ESOP in 1991 that grew to almost $95,000. Because my dad has other assets, he disclaimed it to reduce taxes. What a blessing for me and my brothers!
I know she’s not dead.
I know. I was just giving you a little jab. The mom inherited a bunch of stuff and the kids seems they are entitled to some of the action now. When I was in my 30’s, I didn’t go to mom and dad requesting part of their pay and retirement funds. If this story is even true who is worse, the stingy mom or the entitled brats.
I tripled my money since 2012.
Totally doable again today.
Deserve ab inheritence? Absolutely not!
Clearly, these kids are worthless do-nothings, and the mother knows it...
Spend baby spend...
If I ever heard my children, grandchildren, or great grandchildren bithching about my 87-year-old wife attacking the MGM slot machines at National Harbor 5 or 6 times a month, I’d smack them over the head...
Proverbs 13:22 A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.
BOOM!
If anything, I would have asked the kids if either of them was interested in the house that they were born and raised in?
Since the mother inherited millions AND her mother's house, perhaps she could have let the kids have the proceeds of from the sale of the house they were born in.
-PJ
Haha. Got the jab. I see things differently than spendthrift Mom. I’ve always included my son in my estate planning. He knows where everything is and who to talk to. He’s a sober thoughtful, prudent person so in the end he’ll be rewarded for being a good boy.
it was the foundation of many cultures at one time for parents leave a legacy for their childr3n..
but now it's me,me,me.
Good point. One would think the kids would be in a will even though the mom isn’t responsive to their requests for money now..
ALL billionaires leave their money in some form of tax shelter with their kids and relatives able to get the tax free money. They will learn how to launder the new money so they never have to pay the high taxes they advocate for everyone else.
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