Don’t Want to Leave Money to Your Kids? You’ll Probably Change Your Mind.

How much is too much to leave your children? You may be surprised.

Two little girls lounge by a pool with their hair wrapped in turbans and cucumber slices on their eyes.
(Image credit: Getty Images)

Some parents fear leaving their children too much money. They talk about their friend’s child, who ended up doing little with their lives and abusing drugs and alcohol. Or they have an image of “trust fund babies” who sleep all day and party all night.

The good news is that the vast majority of children with inherited wealth do lead productive lives and would not fall into any of the above descriptions. Their parents set expectations, provided guidance and encouragement, and set limits when the children were growing up. No surprise their children turned out just fine.

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David Handler, J.D.
Partner in Trusts & Estates, Kirkland & Ellis

David A. Handler is a partner in the Trusts and Estates Practice Group of Kirkland & Ellis LLP. He concentrates his practice on trust and estate planning and administration, representing owners of closely held businesses, family offices, principals of private equity and venture capital funds, individuals and families of significant wealth, and establishing and administering private foundations and other charitable organizations.