Some high net worth individuals, including some celebrities, are increasingly worried about how much of their fortunes, if any, to give to their kids. 

A couple years ago, CNN host Anderson Cooper, announced that his son, Wyatt, would not receive an inheritance. According to Cooper, “I don’t believe in passing on huge amounts of money.” He said in an interview, “I’m not that interested in money, and I don’t intend to have some sort of pot of gold for my son." He decided to do what his mother, the late Gloria Vanderbilt, did: "College will be paid for, and then you gotta get on it."

Police front man, Sting, agreed saying, "I certainly don’t want to leave them trust funds that are albatrosses around their necks. They have to work. All my kids know that, and they rarely ask me for anything, which I really respect and appreciate."   

Hollywood couple Ashton Kutcher and Mila Kunis have stated in an interview with Dax Shepard that they plan to not leave a large inheritance for their children. Kutcher and Kunis have stated that instead they plan to donate their fortune mostly to charity and good causes. According to reports, “they say they don’t want their children to become spoiled and entitled, and want them to be motivated to work hard.” 

Yet many other high-net worth individuals disagree, and believe that their children should inherit some are all of their fortune, as long as there are conditions and controls in place.  

Should Wealthy Individuals Leave their Children an Inheritance?