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Author: donbellphd Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81588  
Subject: Re: Passing on Assets to Heirs--Goal or Conseque Date: 11/26/2001 11:03 PM
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While I mostly agree with your comments, I do think parents have a responisibility for the education of their children, and I would hope most parents want their children to achieve more than they could, i.e., stand on their shoulders. I suppose all of us can drag up visions of spoiled rich kids, squandering the family fortunes, but I prefer a vision of children who use their parents' accomplishments to accomplish even more.

If you experienced aging parents who had not planned or provided for themselves, that is indeed unfortunate, but a narrow premise for reasoning. As a parent, you could always fall back on the notion that you needed to preserve all your money to fund however an elaborate retirement you might imagine, and let your kids fend for themselves--self made men are tougher, and all that cant.

I would like couples think more about the responisilbity they are assuming before they have children, and that responsiblity includes not only providing for the education of those children, but ensuring also that they will not be a drag on them. As in most things, moderation is probably the answer.


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