Thursday, October 20, 2005

Should You Leave It All to them

Magazine - Should You Leave It All to the - FORTUNE - Page
Of 30 multimillionaires recently surveyed by FORTUNE, six say their children will be better off with only minimal inheritances. Almost half plan to leave at least as much to charity as to their heirs. In an area where almost no research exists, Alexander Sanger, a partner with the law firm White & Case in New York, offers a revealing statistic. Of 20 wills Sanger has drawn up for newly wealthy parents with net worths of $20 million or more, 16 left at least half the estates to charity. Of 12 comparable old-money estates, only one gave so much away.