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 ...
My estate planning is to take care of my main two heirs, wife and daughter. When I married my wife 15 years ago I had her quit work to take care of me, which she continues to do, so I owe her, she's a lot younger than me. But I also don't want to provide her too much incentive to help me into the grave.
In the last few years I've become debt free and started buying things I want and take care of my comfort such as flying business class. But I don't buy all I want, such as I like to have a Barrett 50 cal rifle, but have absolutely no use for it and it'd be a big hassle to find places to use it.
My daughter is another story, she's 12 and I'm 70 so I have to ensure/insure she's cared for, which I believe she will be. If I live another 20-30 years my view might change.
Teach the 12 year old to take care of herself.
I think parents are morally obligated to help their children get as much education and training as they can, even if the process takes until mid-20’s. However, the child has to be productive to receive that help. Cultures that do that have higher incomes in America, as opposed to cultures that kick the kids out at 18.
However, the wealth of the parents do belong to the parents to do as they see if. If a parent has done their job, their children should not need the inheritance.
By 12, she should be able to survive in the wilderness. My grandfather was living independently by the time he was 8 years old.
Oh please. It's common knowledge that they place their own on the boards of these foundations/charities so the money still remains with them.
No. it’s her money.
Foundations have turned into a means to keep income from being taxed. The 5% they are required to give away are given to other Foundations.
It’s just a giant circle-jerk.
Biblically and historically, before the welfare state, children were supposed to help parents in old age!
Is this a joke? Seriously?
No child has a right to inherit anything other than being raised in a health family until adulthood.
After that whatever a parent does with what they have earned over their lifetime is their business.
If a parent wants to use every dime of their wealth before they die on themselves that is of no moral or ethical issue, it is not selfish, it is a right they earned.
In fact, it is the height of narcissistic selfishness for a child to think they are entitled to anything from their parents after they are above the age of consent.
One does not ‘deserve’ an inheritance, one earns an inheritance.
I fully agree, unfortunately I can’t seem to get that concept thru to my wife. She grew up very poor and is determined to do the best she can for our princess. On the plus side I’ve had to be a single parent for a month or 2 at a time while the wife cares for her elderly family, and the daughter gets a reality check.
It’s all about Redistribution of Wealth — “I see you have wealth. Give it to me. I deserve it more than you do.”
Correct. The “I’m leaving most of my fortune to charity” line by billionaires usually disguises the calculation that doing so minimizes taxes and uses their money to extend their sense of power and influence after death through trusts and foundations controlled by family and reliable allies.
That would be part of the reason why a parent should be invested in helping their children to become situated as best as they can, because it comes back as a blessing if the child can support the parents.
I’d rather help my child get his doctorate and post-doctorates, or as many trade qualifications as he can fit in his brain.
Waiting for an inheritance is a terrible financial plan.
And a way to avoid future federal or state estate tax.
Or like Donald Trump's father. He staked Donald. and started The Donald on that path
where he became a world class builder, and then was elected President three times in a row.
Seeing mom raised selfish children then yes, mom is probably selfish too.
I think this happened to George Costanza
Something about Del Boca Vista
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