sign in • sign up
web   discussions   tasks   blogs   photos

What would you do ...  email this discussion to a friend?

myLot reputation of 99/100. barbiedollgirl (824) 4 years ago

about leaving money to your children in your will? If you had a falling out with your children ... would you cut them out of your will? Apparently, Sean Connery of "James Bond" movies fame has done just that. His reasoning is that his son, Jason, 45 years old, should provide for himself. His son has been providing for himself ... he works as an actor and director ... jobs his father says he got only because of his name. Hmmmmm?? Is this the green eyed monster rearing its head? So, Jason and his father's relationship became strained because Jason threatened to drop the family name. Warren Buffet, the huge stocks investor billionaire worth 60 billion plus has done some modifications of his will for his three children. He is donating about 83% of his fortune to charity ... most of it to Bill Gates and his wife's foundation. His reasoning is that he wants to give his kids enough to feel like they could do anything but not so much that they would feel like doing nothing. Remember Leona Helmsley ... "Queen of Mean"? A judge recently overturned the settlement of her will ... she gave $12 million to her 12 year old pet dog ... he said it was unreasonable and had $10 million donated to charity. The pooch still has $2 million ... plenty to keep up her $60,0000 a year upkeep!

What would you do if you were in a position of power and influence and had money ... would you open doors for your children or would you make them work for it all or do something in between?

I personally would give some money to my children and a portion to charity and my church.

 

life
sponsors
Ask a Lawyer: Child Law
A Family Lawyer Will Answer Now! Child Law Answers Today: 87.
Law.JustAnswer.com/Child

Second Chance Checking
Get The Second Chance Checking Account You Need
bwillconsulting.com

Global Economic Collapse
Annuities Offer Principal Protection With Upside Potential
AdvisorWorld.com/Safe-Retirement

maple_kisses (1051) response was accepted on 8/19/2008.
denotes best response, click it to go to the best response.
tags:  money, will, children, wealth, after life plannings
 
1. myLot reputation of 95/100. Daffodil20 (757)   ranked 1,171 out of 32,957 in life   4 years ago

I know I need not be worrying on this account as I don't have any money .lol.But given the situation by you,I think it would greatly depend upon the children.If they grow up to be a good human being,hard working and god fearing,then maybe I would give one third to charity and leave two third of whole property,because I would know for sure that they would use it to generate more wealth and then they too would contribute greatly towards charity and welfare.


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Yes, I agree! That's a good proportion of distributing your wealth! Thanks!

Ask a Lawyer: Child Law A Family Lawyer Will Answer Now! Child Law Answers Today: 87.  Law.JustAnswer.com/Child
 
2. myLot reputation of 91/100. positiveminded1977 (4490)   ranked 238 out of 32,957 in life   4 years ago

Hi barbie, I have no children and I don't plan to have any too. I am planning to leave my money to the Government. I think a person has the right to leave his or her money to whomsoever he/she pleases. It is ok to leave money to kids, but if the kids have not given you even a grain of peace or happiness in your life, why should you? So, it all depends on a person's life situation, and how he/she feels about it.

Cheers and happy mylotting


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Yes I agree with that argument. I don't think kids should feel it is their right to inherit money from someone whom they may have given grief nor happiness in that person's life. If an individual helped contribute to your well being and happiness in your life I think they should be included in the will. The person with the money should decide how it should distributed ... it is their money.

Second Chance Checking Get The Second Chance Checking Account You Need  bwillconsulting.com
 
3. myLot reputation of 94/100. gemini_rose (10252)   ranked 465 out of 32,957 in life   4 years ago

Well I do not have a great deal to leave my children at the minute but if I was to live to a good age then there would be a house without a mortgage and any money that I have saved that I do not get around to spending. Unless I have any major fallouts with any of them or they are on drugs or anything untoward then whatever is left when I die will be split equally between the four of them. I will not go out of my way to leave a lot, dont get me wrong but I want to enjoy my life and whatever money I have but they are quite welcome to have whatever is left.


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

That sounds fair to me! =)








Global Economic Collapse Annuities Offer Principal Protection With Upside Potential  AdvisorWorld.com/Safe-Retirement
 
4. myLot reputation of 82/100. MoonlightSerenade (998)   4 years ago

I can't imagine cutting my children out of my will. Somebody just did that on one of my soaps haha. It's such a wild dramatic gesture. "I'll leave you penniless!" haha.

It's like disowning your children to do something like that. I don't think I'd use wealth (if i had any) to open doors for my kids other than making sure they had their education. I wouldn't buy them businesses, etc. I'd make sure they knew how to work. But I can't imagine disinheriting your kids, either.



myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Yes, it's hard to imagine someone could do that. My step-mother did just that to my brother and I about 16 years ago. I never did get along with her ... she was a mean, jealous, spiteful witch ... but I always tried to be civil with her. My father didn't leave a will and he was too sick to create one ... after he died we found what our step mother had done. Unfortunately our step cousin had power of attorney since my step mother was incompetent and she and her boyfriend spent $70,000 of our's retirement money on drugs. When my father died my step mother left my brother and I each $25. She provided for the rest of her family ... my cousin's kids, her brother-in-law, her nephew, and even the con-artist kid across the street who stole all the furniture from the house and my father's tools and two cars. The proceeds from the sale of the house were to be divided bwtween these people. My brother and I contested the will and eventually did get some money ... but not what we deserved. Do you watch "Young and the Restless"? Victor cut his two children out of his will.

Currency - Trading & Info Compare Currency Trading Solutions @ Business.com.  www.Business.com
 
5. myLot reputation of 98/100. pyewacket (12221)   ranked 239 out of 32,957 in life   4 years ago

Can't help thinking just how plain petty that all is. Yes, "children" should be able to provide for themselves and not rely on the "fame" of their famous parents, but I just can't help thinking what a slap in the face that is.

Something like that happened in our own family...kind of reverse though. When my mother's Uncle Eddie died way back in 1963, his mother was still alive. He was worth about half a million dollars...the vast majority of the money went to his wife, some to charities, and to his own mother (my great-grandmother) was left only $5,000---"mother and son" didn't get along well, but how petty to leave your own mother so little when worth so much, right?


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Yes I think it's pretty pathetic to do that. I mean if that's some sort of vendetta to get back at your children ... well they can't take it with them to the grave ... why not spread around the wealth?

Mutual Fund Invest In Money Market Mutual Funds. See Exclusive Online Offers Today.  firstcountybank.com
 
6. myLot reputation of 98/100. angelwhispers30 (1900)   4 years ago

I did actually read an article this morning, a statement issued by Sean Connery stating that he did not cut his son out of his will, and he also stated that his son would also be issuing a statement soon too. How much of this is true, or how much of it is Media Hype will never be known.

I would definitely leave money to my kids in my will. I want to know that they will not have to worry about themselves in financial terms after I'm gone from this world. Even if I had a fall out with one of my kids, I would still leave them money. My one last gesture of goodwill and to let them know I meant them no harm.


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Wow! I wonder if this is just a false tabloid rumor? That is very nice of you to want to take care of your kids even if there was a fall out. You're a good person.

New Car Pricing Find out our Lowest Possible Price on a New Vehicle Purchase or Lease!  www.CarPriceSecrets.com
 
7. droppigpop (53)   4 years ago

nothing

$1Million A Year For Life PCH Cash Giveaway As Seen On TV Prize Winner Announced on Feb. 29th  www.PCH.com/money
 
8. myLot reputation of 94/100. joliefille (1347)   ranked 5,699 out of 32,957 in life   4 years ago

I read about that Sean Connery will. I would feel bad too if I was his daughter and I'm left out of his will. sad I would definitely give a portion to it of my children, just enough for them to get by but not wholly depend on it. But I would have to make sure that growing up, my children would know the value of hard-earned money.


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Thanks for posting. It's good that children learn responsibility and not depend on others.

Kids Scrubs and Lab Coats Childrens Scrubs, Lab Coats & Doctor Costumes. Embroidery Available!  www.MyLittleDoc.com
 
9. myLot reputation of 91/100. maple_kisses (1051)   ranked 1,116 out of 32,957 in life   4 years ago

I am an avid fan of Barbara Taylor Bradford and she'd authored a great deal of books about family members turning nasty over Daddy's will. Shucks, it's just not good to see a family fall apart because of money.

Well, in our family, my Mama and Papa won't have such problem because they don't have greedy daughters. I even hate to think about these things, wills and such, because it would mean losing the most important man and woman in my life. I see no problem in the future, we are a bunch of loving and generous people. Hehehe.

If I become really wealthy someday though, I'll make sure my children will grow up with the same values that my parents instilled to us so that money matters won't be a problem in the future. As a parent, I would love to see my children comfortable in life of course. I want them to have the best in life. But of course, they should also learn the other side of wealth by having a decent work. I want my children to be great human beings not a greedy, carefree bunch. Of course I'll give to church and to other institutions as well, there's no question there. God bless!


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

Thanks for posting! That's a very well thought out answer! I like her books too! Take care!


myLot reputation of 91/100. maple_kisses (1051)   ranked 1,116 out of 32,957 in life  4 years ago

Shucks! Thanks for the "Best Response", I hope I deserve it (*wink)...

Make Money Online Now! You Can Use Internet To Make Money And Earn A Salary Or An Extra.  commissionbreakthrough.com
 
10. myLot reputation of 95/100. Hatley (48826)   ranked 948 out of 32,957 in life   4 years ago

hi barbiedollgirl if I had oodles of money I would will some to charity and the rest to my son who needsit badly and is my onlyt living heir. he could donate it to anyone he wanted to andthatwould be fine with me. he deserves what ever I could give him as he is one excellent man and has taken care of me in my old age with a lot of hardship involved so he would get most of my oodles of money.


myLot reputation of 99/100. barbiedollgirl (824)  4 years ago

That is a very sweet son you have! You are very lucky and he's lucky to have you too! God Bless you both!

Make Money Now! Let Me Show You How.  impressyour.com
 
sponsors
Currency - Trading& Info
Compare Currency Trading Solutions @ Business.com.
www.Business.com

Mutual Fund
Invest In Money Market Mutual Funds. See Exclusive Online Offers Today.
firstcountybank.com

New Car Pricing
Find out our Lowest Possible Price on a New Vehicle Purchase or Lease!
www.CarPriceSecrets.com

similar discussions
investing money
hi there friends,im happy to say that i made 50 bucks in fiverr with my gigs =) i just wonder if...
can u suggest me a good site to invest?
I need a good site to invest some money.I can only invest a small amount.because there are many...
Paypal money adder/ generator hacking programs' legal/ethical issues
So recently, I stumbled upon these PayPal Money Generator/Adder hacking programs that say that they...
Are you still hungry for referrals?
I start not to refer to all my earning sites that I join, it seems like after I encourage one they...
My Life on MyLot - friends and money
This happened in October end of 2010, just after the death of my father, I was going through the...
My wife is sweating over the income taxes now so I may have to fend for myself
but she said I could do them instead and she would fend for herself. Do you take your taxes to an...
how to make money from internet?
I am a newbie in the internet world, I want every whatever I do make money because I really need to...
Donkeymails question!
Hello friends, I am sure many of you are member of the donkeymails site. So, hoping to get my...
make money?
hello everyone....what can I do to make money from mylot??I'm a new member hehe please......
I Got My First Payment on Mylot
I am really excited to share my happiness to everyone in mylot community that I received my first...
sponsors
Currency - Trading & Info
Compare Currency Trading Solutions @ Business.com.
www.Business.com
Mutual Fund
Invest In Money Market Mutual Funds. See Exclusive Online Offers Today.
firstcountybank.com
New Car Pricing
Find out our Lowest Possible Price on a New Vehicle Purchase or Lease!
www.CarPriceSecrets.com
$1Million A Year For Life
PCH Cash Giveaway As Seen On TV Prize Winner Announced on Feb. 29th
www.PCH.com/money
Kids Scrubs and Lab Coats
Childrens Scrubs, Lab Coats & Doctor Costumes. Embroidery Available!
www.MyLittleDoc.com
Make Money Online Now!
You Can Use Internet To Make Money And Earn A Salary Or An Extra.
commissionbreakthrough.com
Make Money Now!
Let Me Show You How.
impressyour.com
return to mylot
We are loading a word from our sponsors. No thanks, cancel loading.