Shiney, Our deeply respected courts have now evolved the policy that a deceased has a responsibility, "Beyond the grave", So if there is money in the estate, a court can rewrite the contents to account for a needy offspring. OC
Your assumption is that they are either one or the other. I have read 'The Millionaire Next Door' which sprouts statistics that kids that worked for things are more successful but that doesn't mean that you can't give them a hand. It is assistance with a deposit not buying a house. On your assumption am i correct to assume that you don't believe i donating to charities either because they will just "piss it away"?
I reckon it'll be the grandkids that'll benefit most. Hopefully, the kids will have listened, developed good financial habits and learnt not to blow money. By the time i die i hope that she would be comfortable and able to set up something for her kids for when they get older. We'll see.
So as not to hijack this thread I've taken this here: http://forums.silverstackers.com/message-628495.html#p628495
Was curious to see the stocks mentioned....I just finished my evaluation on the Intelligent Investor, deciding if to continue on.
The stock portfolio is not very practical. Brokerage would be considerable, and the bottom 5 stocks ( less than 1.5% of the $35500 portfolio) would be less than the smallest parcel of shares you could buy on the ASX. ie less than $500. A mix of ETF and bonds would make more sense similar to the option 2.
