Personal Finance
I have millions but I don't want to leave my kids any money in my will because I don't agree with their political beliefs
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One of the biggest wedges between generations in the US has been forged by avowed Marxists who have co-opted academia. With 95% of the American Federation of Teachers’ membership firmly in the camp of the Democrat party and its president, Randi Weingarten, a registered Communist, the teachers have presided over plummeting academic standards in American science and mathematics. For example, a 2023 TIMMS study showed that 8th graders’ scores have dropped 27 points since 1995. The Marxist theory and propaganda that have replaced science and math mastery has created several generations of Socialists, and many parents are loath to bequeath their hard-earned estates to these children, who will support causes antithetical to their parents’ values.
A millionaire caller to the Dave Ramsey Show articulated this particular dilemma on air. She noted that she had two daughters who she had been contemplating on how to divide her assets in her will. One daughter was very successful, while the other one was earning a respectable $50,000 salary. However, in recent years, arguments over politics have caused estrangement to the point where she didn’t want to leave them anything because both daughters had become Socialists.
Unless the influence of parental core value teachings has been strong and consistent, many Gen-X and the vast majority of millennials and Gen-Z have been taught in the school system to favor Socialism and Marxist theory, even if at a subliminal level. The wedge in values has affected families of most demographics, regardless of social status or income size. The NY Times even published an article on the issue.
As a result, the caller is not alone in her dilemma, and the subsequent impact on drafting wills demands a Solomon-like wisdom to resolve such issues as:
The caller might want to consider creating a revocable trust that would become irrevocable upon her demise. All of the assets in the trust can be assigned to be managed by closely trusted friends and/or relatives under her guidelines. The structure, depending on its size, provides a wide range of provisions and protections that ensures her wishes will be met, and can include:
If the size of the trust permits, it can also create an optional job (for daughters or grandchildren) with the trust in administrative support to learn about the caller’s core values. If an heir can prove to meet specific criteria benchmarks, then a co-trustee position can potentially be granted. This exposure can serve as an opportunity for heirs to better understand the caller’s motivations, principles, and sense of ethics, even after her demise.
Wills and trusts have long been a plot source for movies with potentially comical (The Bachelor – 1999) or sinister (Inheritance – 2020) requirements. However, they can be an effective tool to ensure one’s estate has at least a stronger chance of surviving intact for subsequent generations of one’s heirs, regardless of outside cultural and political influence.
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