I feel the same way as Judge McGraw feels. I am curious why Wellington R. Burt only distribue his fortune to the generations after his grand children. I mean, does that mean the great-grand children would not be spoiled with his money if that is what he was worried that his children and grand children would be? I personally think that this method of splitting the money is not very effective. We live in a more morden society with higher technonlgy. This means that the competition of the market is tougher. The great-grand children receiving a big amount of money would have a higher possibility of allowing them become couch potatos. This may not be correct, but it has a bigger tendency to let them be spoiled. That is my opinion, no offense.
So here comes the questions:
1. If you lived to be old and very wealthy, would you leave all your money to your children?
If not, why not?
I would not leave all my money to my children. I would leave some to my children, and leave some to my grand children and great-grand children in case they run out of money. The reason why I would leave some of my money to my chldren is because I am their parent. I have the responsibility to provide them a good life. Also, I certainly do not want to see my children not be able to afford their bills and meals. After all, they are my children. I love them.
2. If so, would you favor males over females or the first born?
I would definitely be completely fair with them money. I mean, why would I prefer one gender over the other? Everyone is equal. Why would I favor the first born? Does it mean that first born has the stronger ability to do things? I don't think so. They are all my children. I will distribute my money equally because I love them equally.
3. Would you give anything to grandchildren, or like the person in the article, leave money to the generations living after your grandchildren? Explain.
Like I've already answered in the first question, yes, I would leave some to my grand children and great-grand children (if I have large amount of money.) I do not want to see my grand children to be begging in the street for food. I want my all inheritances to have good lives. At least not have to worry about no food to eat, no clothes to wear.
4. What percentage should go to charity?
I would leave this question to my inheritances who get the money. I would hope that they would plan how to use their money well and leave some to the charity if they are not tight at hand.
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