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You could donate it to a worthy cause or you could pass it down to your kids.
And a lot of this will be done as a living inheritance.
This is true not only with their careers but also financially.
However, you also need to think about your own needs.
What happens if an unexpected expense pops up?
Are you still going to have the funds available to continue living your current lifestyle?
Its easy to leave cash assets and know the distribution is even.
But what if youre planning to leave someone with abusiness or real estate?
Not just between siblings but also between you and them.
Potential for Financial Irresponsibility
Lets be honest with each other.
Sometimes people make bad decisions with money.
Lifestyle inflation is a real thing and can havesome severe outcomes.
They want to go out and treat themselves to something theyve wanted but couldnt afford.
And while this is OK to a certain extent, there must be some restraint.
Instead, giving your kids a living inheritance can put you in control.
Luckily, we have a lot of control over that.
We can teach them the difference between right and wrong.
Or we could simply help bail them out of a financial pinch.
Lets be real, some younger generations, especially millennials, have dealt with their fair share of problems.
As many in that generation started their careers, they dealt with the financial crisis.
All of these things have contributed to some struggling to get ahead financially.
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