Is leaving all your inheritance to your children unethical?

[brasty]

I have been reading this article which argues that if you are leaving an inheritance to your children, that you should also leave some money to charities who help disadvantaged people, in recognition that not everyone inherits. It argues not to do that is unethical.
I think I agree, unless the inheritance is a very small amount - under £5k.

www.theatlantic.com/business/archive/2017/12/ethics-inheritance-nussbaum-levmore/547934/

Only 4 per cent end up in a care home and most that do don't last a year, there are lots of fears about this but won't necessarily happen in your family.

I give to charity now and pay a ridiculous amount in tax for someone who is retired.

We also give sums of money to the DCs every year.

Nothing to charities when we go - all to the DCs.

YY Barrow. My Gran is 89 and very infirm and just wants it all to end but she can't afford Switzerland. She's talking about saving up her morphine tablets rather than going in a home...

Everyone who wants to die needs to inform their GPS in writing that they refuse any further use of antibiotics and any use of IV fluids if they become dehydrated.

Kerala average stay in care hone is 2 years one in 4 is 8 years. Average cars home £1k per week and health normally improves when they are in the home

I was given those figures on a recent course little - who knows?!Think the point is this causes a lot of anxiety but most don't end up in long term care. Sadly there are those that use these concerns about care costs to flog clients care home avoidance type schemes which are often dodgy.

Anecdotally in my family of say 10 elderly now dead only one needed long term care.

More people need care at home.Not cheap for decent care. Also sadly I have come across adult children trying to stop their parent going into a care home, so they can safeguard their inheritance, Social Services intervene in the worst cases.

Too many charities have become political lobbyists. They are off my list.

The ones with highly paid "leaders" especially those appointed from within the political networks like Milliband and the Kinnocks Daughter in law, no, no, no.

I'dcratner leave it to my kids. Or give some to a local hospice charity while I can see how it's run.

pallisers "I think people are entirely missing the context of this article. "

but OP said less than 5k, which I took to mean "leave some to charity unless you're leaving less than 5k".

i wish more people would spend their inheritance.

Its lovely to be able to pass some down, but Ive seen family members be so careful with their own spending, just so they can pass money down the line.

festive, yes but that makes a lot of sense to be careful and what would you buy - stuff? It depends what makes you happy but I don't think the NHS will last my lifetime, never mind the DCs. If we are heading for American type health systems every penny will be useful.

If you look at research it’s much higher the Japanese have the best idea

Seemingly odd things my grandparents did make sense at a later date.

The example that prompts this is my grandmother who was notorious for having stashes of money about her house. Now she was born in Edwardian era and so knew of times when a bank could crash and there be no deposit safety scheme. When people lost money in BCCI bank and Icelandic banks it started to make sense!

The poverty my grandparents grew up in with no welfare state beyond the workhouse made that security of passing on a little very meaningful.

lol, No.

My money is going to my kids. If I didn't have kids I would probably spend as much as possible on nice things before meeting my fate. Then leave whatever is left to a good friend.

Money you have acquired or earned in your lifetime is your money . Nobody has a right to dictate what you do with it or what happens to it.

Just to be clear I do agree with paying taxes / socialist society while alive, but anything left after the taxes is out of bounds / hands off.

^ I include the super rich in this too, their money is theirs to do with as they please.

Charity begins at home! I did inherit a small sum and as the benificiary I donated some money to the hospice as I felt I wanted to bit it wasn't part of the will and at the funeral donations were also given to charity instead of flowers. I give to charity myself through my life but my my will states my DS will be my benificary. I don't think it's unreasonable to put family first.

For some local charities, every penny counts, and you can see themselves the difference they make. If you contact them and say you are thinking of leaving them a gift in your will and want to know more, if they are well run, they will tell you everything you want to know.
I am Treasurer for a local charity where a donation of £5k would make a real difference. Everyone volunteers, the charity is well run and not a penny is wasted. I will happily leave them a gift knowing that it will make a big difference.

You could leave a gift to your local food bank that they will use to buy foods and toiletries that are in short supply. Again a small gift would have a real impact.

Most of us work for our money and pay taxes one way or another. You should direct your ire at the government (which ever is in power as they are all equally poor at addressing social issues) about profligte mis spending and underfunding in many areas of life.

Using your example of food bank - sorry! there simply shouldnt be any need for food banks. You need to get to the root cause not put a sticky plaster over the wound.

In my professional experience the super rich don't leave much to charity either! Those trust funds won't fill themselves..

Given the astronomical waste of many charities, huge CEO and director salaries, I'd rather not.

Everything I have saved, has already been subject to income tax, I find inheritance tax an outrageous concept to be honest.

it is just not kids who inherit. When my husband died our property being held as tenants in common meant I had to inherit his 50%. If I didn’t inherit this it would have meant selling up and myself, our sons and my disabled mother would have been homeless. My 50% would not have been enough to buy a home suitable for us.
My husband worked hard for over 40 years. He never reached retirement age so is not going to benefit from a state pension he has paid for, his illness was short so didn’t cause a massive drain on the nhs which again he has paid for all his working life and died in a hospice which is a charity so again no use of public funds. There is no widows pension anymore and widows allowance is not enough to even cover a funeral.
When I die everything I have will go to my children. If I want to give money to charity I will do so whilst I am alive.

I am sorry for your loss, Cantspell, and I don't think anyone should give anything away that they don't want to. But for many of us who don't have tuppence to rub together when we are alive, our wills are one of the main chances we have to donate to charity. The hospice which looked after your husband had to be funded somehow.

(I've got a bunch it really tiny, miniscule standing orders to charities now, while I am alive, but they will benefit most once I am dead.)

Given the astronomical waste of many charities, huge CEO and director salaries, I'd rather not

Yes, one would really have to properly investigate any charity before leaving them money. They aren't all what they seem.

Giving to a charity that has changed your life or that of someone you love is a good idea IMHO. I'm going to leave something to the outreach fund at my college.

I plan to buy my DC a house, cars and pay their educational costs whilst I’m alive, I think that’s better than waiting for inheritance.