My Dad is Rich But He Won’t Leave Me a Dime!
Those of us who enjoy rock ‘n roll music from the 1970s and 80s are very familiar with Sting. He was the lead singer for the Police, and then went on to enjoy a spectacularly successful solo career. As you can imagine, he has accumulated quite a fortune.
Good for him. He came from modest roots and made something of himself. He knows the meaning of hard work and wants his children to have the same core values. So, his $180 million pound estate is dedicated to supporting his current enterprises.
Of course, as an insurance man, I would remind him that if he doesn’t spend it all, he may need life insurance to pay estate taxes. Then, whatever is left of his estate can go to the charity of his choice. He certainly has developed quite a reputation as a philanthropist.
What about you? If you were worth a ton of money, would you leave any to your children?