Shutting Out the Kids from the Family Fortune Reflection

Whenever a parent dies, the inheritance problem exists. If the parents have lots of children, who is he likely to give his fortune to? The first thing comes to my mind is that there is one millionaire called Wang Yun-Ching in Taiwan, he has several kids, and his sons and daughters are fighting for the inheritance. He didn’t name the successor to inherit his business, that’s why his family is so messed up right now.

Questions: 1. If you lived to be old and very wealthy, would you leave all your money to your children?

If not, why not?

If so, would you favor males over females or the first born?

I would give all of my money to my sons because they are the one I can evaluate in my life. I will be observing their actions, and their concepts about money. To give it to male or female it depends on their ability, however, I like sons more therefore I would probably give the money to sons instead of daughters. First born or not, it depends which one I liked the most.

Would you give anything to grandchildren, or like the person in the article, leave money to the generations living after your grandchildren? Explain.

No I would not. I don’t even know my grandsons, why would I give my moneys to them? The person in the article is awkward, what if his grandsons are abused of gambling? All of his money would be gone at a round in casino, no matter how rich you are. At least I can see my sons’ action during my life; I can judge them and then decide who I am going to give the money after my death.

What percentage should go to charity?

My mother usually brought lotteries, and of she wins, she would give 90% of the money to charity. Why, because she thinks that money doesn’t belong to her and with lots of money is dangerous too, gangs will be looking forward you family. However lotteries are different than the money that you earned. Like Bill Gates, he gives a lot of money to charity, for thanking the society. I will give 50% of my money to charity, to those who need help as well. Another 50% of my money would go to me or to my children. Why to myself? Because I want to travel around the world when I am old.