Granting large inheritances to children can lead to detrimental effects on their personal and professional growth. Knowledge of impending wealth can reduce their motivation to strive for success, as they may rely on the expectation of future financial support. This can also hinder their ability to learn vital financial skills such as budgeting and investing. Parents should contemplate a measured approach to inheritance that encourages independence, possibly seeking guidance from financial planners or family therapists to navigate these sensitivities without resorting to extremes.
Leaving exorbitant amounts of money to children can detrimentally impact their career and life decisions, possibly leading to a lack of motivation and growth.
Parents should consider balancing inheritance with teaching children financial responsibility to foster independence and a solid work ethic.
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