Bill gates kids would not inherit his wealth, and so will other billionaires around the globe. I conducted an online survey recently and most people believe it would make their kids entitled. Some think that by depriving their kids of money it would toughen them.
Inheritance is good but the most important thing is the management. Some kids just get quality education from their parents to fend for themselves. I don't think your kids will love you if you give them all the money in the world

I prayer
MAY THE WIND BE AT MY BACK
MAY KIDS TAKE ALL MY GOOD
AND MY WIFE HAVE CLASS

My kids shall inherit all my labour on earth. Amen

Inheritance would not ruin your kids. Teaching your kids that all they have to do is sit back and allow you take care of their every need even in their 30s while waiting for their inheritance, which might come in their 50s, would ruin your kids.

Your inheritance is a foundation to build on or an addition to what you have started.

I have always thought of this too OP.
I'm not yet sure of what is right to do.
But honestly there are strong doubts about letting my children inherit from me.
Biblically it's good, but I'm damned if I know what I want to do yet.

My children and grandchildren shall inherit, enjoy and reap from all my toils. AMEN.

@OP, Bill and other billionaires are NOT living their children high and dry as you claimed. They're leaving them something, although a small percentage of their wealth.

Queenlovely, it would be quite erroneous to think that the rich don't pass on their wealth to their kids. Infact they do but not in a way you would expect.

Reason: Simple. Tax evasion.

If the rich dies and pass on their wealth to their kids, the government would quickly jump in and come in for their own share of the cookie in the form of tax. Depending on the country you're from, state laws and the type of wealth being passed down, taxes could range from inheritance tax, to state estate tax, and then there's capital gain tax if you decide to sell but the property goes up in value. Oversea inheritance tax could also be applied if part of that wealth is coming from from overseas. In some countries, inheritance tax could be well over 30%. Now that's a lot of money to be lost!

So what do the rich do? They set up trust funds and charities that are obliged to take 'care' of their children.There's a lot attached to that word care. It simply means the trust fund would finance the children's whims and caprices. That aside, income from trust funds are taxable but exempted from double taxation. Having said that, they also give some amount of cash yearly to their kids. Over the years, this build up to a sizeable amount.

So don't let all the donations to charities deceive you. Bill Gates daughter is worth about $20 million. How old is she and where has she worked? He's already left some cool cash to her and sent the remaining to their trust fund to shelter it from tax.

Allwility:
Queenlovely, it would be quite erroneous to think that the rich don't pass on their wealth to their kids. Infact they do but not in a way you would expect.

Reason: Simple. Tax evasion.

If the rich dies and pass on their wealth to their kids, the government would quickly jump in and come in for their own share of the cookie in the form of tax. Depending on the country you're from, state laws and the type of wealth being passed down, taxes could range from inheritance tax, to state estate tax, and then there's capital gain tax if you decide to sell but the property goes up in value. Oversea inheritance tax could also be applied if part of that wealth is coming from from overseas. In some countries, inheritance tax could be well over 30%. Now that's a lot of money to be lost!

So what do the rich do? They set up trust funds and charities that are obliged to take 'care' of their children.There's a lot attached to that word care. It simply means the trust fund would finance the children's whims and caprices. That aside, income from trust funds are taxable but exempted from double taxation. Having said that, they also give some amount of cash yearly to their kids. Over the years, this build up to a sizeable amount.

So don't let all the donations to charities deceive you. It is important avoid becoming inheritance scam victim. Bill Gates daughter is worth about $20 million. How old is she and where has she worked? He's already left some cool cash to her and sent the remaining to their trust fund to shelter it from tax.

It is also very important to understand the laws of inheritance. After all, a charitable organization may not take good care of children or provide any funding for children at all.