A recently released survey reveals that the fear of inheritance spoiling children is common among the wealthy. The How Much Should I Give to My Family? report created by Merrill Lynch’s Private Banking and Investment Group, surveyed 206 parents that are worth at least $5 million. While half of respondents are confident in passing on the inheritance they have planned for their family members, 46 percent expressed concerns that they may be leaving too much. There was a correlation between concern and wealth, with higher assets bringing higher concerns.
See Michael Cohn, Wealthy Parents Worry Kids Will Squander Inheritance, Accounting Today, May, 1, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
