Rich Parents Fear Children Will Squander Inheritance

Rich parents fear children will squander inheritance

An increasing number of high-net-worth parents are worried that leaving too much money to their children will be a “curse on their lives” and are turning to charity donations to avoid handing large sums down the generations. According to a fresh poll, three quarters of parents with a net worth of £3m or more believe handing their entire estate down to their offspring will be a burden, with six in 10 saying their beneficiaries already have enough…

Majority of wealthy parents say big inheritances can harm children

Wealthy parents have been giving more to charity over the past two years due to rising Inheritance Tax and worries about leaving too much money to their children, research from Rathbones has found. Three out of four (75%) high-net-worth (HNW) parents with average wealth over £3m believed that leaving too much inheritance could be a curse for their children.  More than three-fifths (61%) were concerned their children might use the money irrespons…

Wealthy parents choose charities amid inheritance worries