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Multi-generational Wealth - Pros and Cons

Started by Nigel, January 16, 2019, 10:12:15 AM

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Sam, I know you're going to cover this topic in the future but one aspect I'd like to put in the PRO column for multi-generational wealth based on the government shutdown article is that societal safety nets...whether that's social security, pensions, medicare, unemployment, questionable.

Multi-generational wealth can potentially be structured to provide descendants with a financial safety net. 

This is, to me, important as the generations are becoming more widely spaced as we start having families older and older.  You can't rely as much on grandma and grandpa or even mom and dad being around...for help in a crunch.

I assume, because I'm giving my kids a good start, that they will be okay.  I'd like to also give them the comfort of knowing that I have their kids' back too even though I'm not likely to be around.  Something they can't screw up through bad luck or bad judgement.