Daniel Craig announcing he isn't leaving much inheritance to his kids

[Balgoresboy]

news.sky.com/story/james-bond-star-daniel-craig-says-he-will-not-leave-children-substantial-inheritance-as-he-finds-practice-distasteful-12384357

From reading this articles and other inheritance posts on mn is anybody else sort of shell shocked that one wouldn't leave their wealth, especially that of Craig's, to their kids?

He calls it ''distasteful'', which I cannot understand as you are providing for your kids when you are gone and talks about giving it all away before he goes. I know it is his money to do as he pleases but unless I was estranged from my kids, most of my assets will/would go to them at the time of my death.

I see another news story too where Tamzin Outwaithe says she and her siblings lost out on her mother's will as it wasn't made properly. Again surely if Tamzin is upset there must have being significant money there so again baffles me how people don't make solid wills.

He doesn’t say he’s not going to give them anything though - just that you should give it away or spend it while you’re alive.
Tbh it’s savvy planning for wealthy people to not leave a fortune in inheritance because of the tax.

Tamsin Outhwaite bought a holiday property with her inheritance from her mum did she not? I’m sure she posted it Instagram so she obviously got a chunky inheritance

''Tamsin Outhwaite bought a holiday property with her inheritance from her mum did she not? I’m sure she posted it Instagram so she obviously got a chunky inheritance''

yea but she said she lost lots because the will wasn't made properly.

Inheritance is the last message to loved ones and a way of caring for them beyond the grave. I’d want to help my children through my will, however I’ve very average assets. Being as rich as daniel is different, you want kids to have a good work ethos, life purpose and be grounded and sometimes silly money can get in the way of this.

In France bio or adopted children automatically inherit half of anything you have when you die.
Very difficult for those with no dc of their own. When their dp dies they may lose a lot to step children.

I would guess his adult daughter has already benefitted from being bought a house and he'll do the same for his other two DC. They will probably also have (now or in the future) substantial trust funds. That'd do for me

I'm sure that Daniel Craig's children will have had an excellent education, every possible advantage in life, homes bought for them etc. They won't be poor at any time . So what if they don't also get a huge chunk of money when he dies , I doubt that they'll be in the poor house.

I don’t know about ‘announcing’. It will just be his response to an interview question.
And as PP said he may leave them just a million each or something and he may change his mind!
Warren Buffet said something like You should leave your children enough to do something not so much they do nothing.
He sounds very sensible and thoughtful to me. If do the same if I had tens of millions. Give my relatives security not a pointless rich life.

I once heard this phrased that you want to leave your kids enough so that they can do anything, but not so much that they can afford to do nothing.

Even a small % of his wealth, inherited, would allow his offspring to buy a normal family house outright, and have that security, but it's entirely understandable if he wants to avoid a situation where the kids have no drive or work ethic.

Totally different situation for the middle classes Vs the super rich.

yea but she said she lost lots because the will wasn't made properly.

You can't lose what isn't yours in the first place. Presumably the will not being made properly is down to her parents?

DC is probably just saying it to motivate them to work hard for themselves and not be entitled little arses who know they're coming into a lot of money in the future. Bill gates and other billionaires have said the same. It's not really cool to say "yes I'm going to be leaving millions to my kids" is it?

Our dc's have no idea how much they'll inherit when we die (it's quite a lot) - I never understand people who discuss money in this way with their kids and often think it is used as a bribe to ensure loyalty etc.

It's not even a conversation we would have in our house, and I've never discussed it with my own parents either. They've told us everything will be split between me and my siblings but there's every chance they will need care homes etc and maybe there won't be anything left. I don't really think about it, inheritance is never a given.

My friend’s family are quite wealthy, and very much have this attitude. It doesn’t mean that they don’t want their money etc to go to their children. They’ve just given bits away whilst they’re still alive. They helped my friend and her siblings get on the property ladder with sizeable deposits. They’ve made sure my friend and her siblings don’t have any student debts, and their are savings accounts in place for all the grandkids, should they wish to study when they’re older. Their eldest grandchild recently turned 17, they’re paying for all the driving lessons he needs and have bought him a car.

The money/assets etc are very much going to their children, they’re just giving a lot of them away whilst they’re needed most, and while the adult children benefit most. The fact that they were given the house deposit years ago does technically mean their inheritance will be less. But it also means that they’re raising their own family in lovely houses, with more money for day to day living. The parents are seeing their children and their families enjoy and benefit from the money. My friends parents are very early 60s. They hopefully have decades left to live. My friend won’t necessarily want a big family home etc then, her own family will be grown. Her parents ‘giving away’ their money while they’re still alive has allowed her to live a really nice life now, rather than years from now.

Some very wealthy people don't leave anything for their offsprings, as they consider that some people are wasters, and not worthy of anything, and they leave all their money to some charities instead.

I heard he is planning to leave it to Minnie Driver.

His kids will be left enough I’m sure or given it when he’s alive. I can see the distasteful bit- you’re contributing to the growing wealth gap by leaving huge inheritances for children who will be well off enough without getting it all. That money could do so much elsewhere.

He is worth over £100 million. Not substantial to him could be a house and £5millon or £1m. Still much more than most kids will ever inherit. And he will leave them connections, and all the privilege of being his children so...shrug. Good for his kids, none of our business
Quite a few millionaires now say this (good on them I guess) but am not particularly cheering the wonderful beings they are because so much about how their wealth came to be and how their privilege goes beyond money is not addressed. Good on them they have such luck/privilege etc but am never sure why we are told this so much these days. So sorry Craig. Won't be joining the congratulations queue

Bill Gates has said he will "only" be leaving his 3 kids $10 million each.

''I heard he is planning to leave it to Minnie Driver.''

she is such a huge star that she doesn't need it. Don't you remember her in the 90s?? Nah me either. xx

Well, Mummy has a few quid herself (Rachel Weisz).

My inlaws are like that. They have bought houses for the children, offshore trust funds, gave them expensive educations, no student depts, yearly 5-figure cheques “for Xmas”, pay for the entire family (think 20+ people) to have almost yearly 5star holidays in exotic and strange destinations. They are sure many assets will be subjected to unbearable tax (and we might lose them) and they are giving as much as they can away trying not to die in the next 10 years.
Daniel Craig might be the same.

I thought you were going to say “Bond” so I’ll get my coat.

Honestly OP, unless there is something you are not telling us you leaving your assets to your DC is vastly different to Daniel Craig's situation. Good on him I say. I'm sure his DC have had every advantage in life and no doubt he has helped them a lot, but good on him. So many problems can arise from people having too much money, especially when they've done nothing to earn it.

If he’s worth over 100m then he can give 90% of it away and still leave his children more than comfortably off.

Hannayeah

I love call backs.
Love ya OP, at least your threads keep me from doom and gloom. Colour me shocked, I agree with you on this. He's not the first and he won't be the last. Anita Roddick did this. I think Sting said something similar as has Elton. Simon Cowell and Gene Simmons.
I think they mean lots of capital. Even so, it makes no sense to me.
Unless the DC are already addicts like Michael Douglas's son was (in which case money ought to be used to help them and the rest put in some kind of trust) why would you not want your kids to benefit? Why would it stem their creativity? Why do they need to earn their own to prove their worth?
I am all for work ethic and have read somewhere adversity e.g. father dying young, can create a drive to succeed (adversity has not done that in my case, I have a strong work ethic but not a well-paid career).
The idea that they made it, so their kids can, is unrealistic, given pandemics, unemployment, industry 4.0 and the world going to hell in a handbasket.
They must mean they have left property, rights, some funding etc for a pleasant life rather than everything. Even then, I'd trust my kids to be able to do charitable things of their own choosing.
It's a very privileged notion that the world is fair - I guess you don't want playboy kids with no idea of the value of money and maybe nepotism/the surname/a trust fund allows them opportunities in any case. I just know what it is like to be poor and I wonder whether they have forgotten. Or whether the slebs are virtue-signalling themselves

I also thought you were going to say he was not leaving the Bond role. And I was going to blame Covid for lack of new theatrical roles and new productions. Then blame Daniel for crying wolf and always pretending he's had enough of the franchise, and is walking away, to leverage more money. But it appears he is worth a lot more than I realised anyway.

@Balgoresboy

''I heard he is planning to leave it to Minnie Driver.''

she is such a huge star that she doesn't need it. Don't you remember her in the 90s?? Nah me either. xx

You really don’t, do you?!

www.itsrosy.com/Celebs+Who+Cut+Their+Kids+Out+Of+Their+Inheritance
Loads of them or it might lead to this...world's crappest article
www.therichest.com/world-entertainment/15-spoiled-kids-who-waste-their-famous-parents-fortunes/