In recent times, well-to-do parents are not leaving their hard earned fortune for their kids but instead pledging their wealth for charity. These millionaires are nowadays ensuring that their children learn to earn their own bread. From rockstars to self-made billionaires and tech tycoons — all of them are giving away their fortune to charity or trust funds.
When Philip Seymour Hoffman died, he mentioned not leaving his wealth to his children. Another parent who is setting an example and following the ‘no inheritance for kids’ trend is Jackie Chan, who clearly says that, if his children can make their own money, that would be good enough. It surely is a way for parents to ensure that their kids make something of their own, instead of just wasting their hard-earned fortune.
Psychologist and Counsellor Sadhana Kiran explains the scenario, “It is a gratifying act for the super-rich but, one must also understand that it requires immense amount of selflessness to do so. It shows that they are genuinely interested in the welfare of the society. Sometimes, there are also other reasons; they also might feel that their children are not worth the inheritance. Instead they hope to fund the needy and helpless,” adding to which she says, “Such acts of charity and good-will also ensure that their children grow up to be modest and selfless individuals just like their parents.”
The best example are Bill and Melinda Gates who assured that their funds will go to the trust and only a third of the millions will go their children. These parents aren’t only richest in terms of wealth, but also morality!
