TITLE

No Strings Attached…

PUB. DATE
September 2007
SOURCE
Journal of Financial Planning;Sep2007, Vol. 20 Issue 9, p14
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
This article reports that 62% of wealthy households feel that their children are responsible for creating their own wealth. 74% also plan to leave some of their money to their children to help them. PNC Financial Services conducted a survey and found that 30% plan to restrict their children's access to their inheritance money by using incentive trusts and other such programs. Wealthy parents are more apt to place restrictions on their children's funds. 77% of the parents stipulate that some of the inheritance must be for education, 46% require that it be used for housing, and 28% require that some of it go towards business or career-related expenses.
ACCESSION #
26475354

 

Related Articles

  • Worry Rises over Wealth's Power to Harm Its Heirs. Ackerman, Ruthie // American Banker;1/25/2010, Vol. 175 Issue 12, p7 

    The article discusses research by the PNC Financial Services Group Incorporated which found that wealthy Americans have become more concerned since the year 2008 that their children are becoming spoiled. According to the article, approximately 35% of the respondents believe that their children...

  • Q: How Can I Deal With an Unfair Will? Lawson, Willow // Psychology Today;Jul/Aug2006, Vol. 39 Issue 4, p42 

    The article deals with contentious last wills of parents. Steven Hendlin, a California psychologist and author of Overcoming the Inheritance Taboo: How to Preserve Relationships and Transfer Possessions states that however the parent decides to divide the estate, the kids will take this as...

  • How the rich prepare for death. Laurence, Michael // BRW;5/18/2006, Vol. 28 Issue 19, p111 

    The article provides information on the ways rich people in Australia prepare for their death. It is said that rich people do not personally own assets because they prefer discretionary trust, which is unaffected by the death of the an individual. Rich people also advised their beneficiaries not...

  • Financially Clueless Couples (Okay, Mostly Men)….  // Journal of Financial Planning;Jun2006, Vol. 19 Issue 6, p12 

    The article reports on surveys by "Money" magazine and The PNC Financial Services Group that suggests couples don't understand how the other perceives their household finances. Nearly 70 percent of women claim they share financial decision-making responsibilities but less than 50 percent of men...

  • ARE PARENTS FREE TO BESTOW THEIR WEALTH ONTO THEIR CHILDREN? A JURISTIC DISCOURSE ON EQUALITY AND JUSTICE IN HIBAH. Awang, Abdul Bari; Rahman, Amilah Awang Abd // Jurnal Syariah;2014, Vol. 22 Issue 3, p407 

    This study explores issues related to justice in the bestowal of gifts (hibah) by parents to their children. Hibah, in the current development, is practised freely to the extent of being considered a favourite choice of transferring wealth. However, it is a potentially problematic practice...

  • (WOMEN) PNC Foundation.  // Children & Youth Funding Report;7/16/2010, p26 

    The article offers information on PNC, a highly diversified national financial services organization, and its giving arm, the PNC Foundation. It is said that PNC supports a wide range of programs including those which help the homeless. Both PNC and PNC Foundation have strengthened and enriched...

  • 'Affluenza' has wealthy parents worried.  // Oregon Business Magazine;Mar2001, Vol. 24 Issue 3, p22 

    Presents the survey results on affluent parents financial concern for children in the United States. Fear of parents on children emphasis on material possessions; Need for rich children to understand the value of work and money; Offspring financial goals set by parents.

  • YOU BE THE JUDGE. Schorr, José // Saturday Evening Post;5/19/1951, Vol. 223 Issue 47, p51 

    The article focuses on the case of an adopted lady who was denied by her relatives of the right to take over the property left by her deceased aunt and uncle. The court stated that she is entitled to a daughter's position because she was accepted by her aunt and uncle and she responded...

  • Family Matters: Establishing Legal Parental Rights for Same-Sex Parents and Their Children. Palmer, Tiffany L. // Human Rights;Summer2003, Vol. 30 Issue 3, p9 

    Same-sex couples are changing the portrait of the American family and the landscape of family law. The number of children raised by lesbian and gay parents has continued to increase as reproductive technologies advance and as the availability of adoption expands. For same-sex parent families, it...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics