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What Should I Do With My Big Fat Inheritance? - Family - Nairaland

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What Should I Do With My Big Fat Inheritance? by Nobody: 3:45am On Aug 31, 2022
A reader asked The Ethicist in 2021: "When my father died, I inherited a large trust fund and sole ownership of a family business. I was young and woefully unprepared, so I put my inheritance on the back burner and lived my life as if I was financially 'normal.' However, since the pandemic, my portfolio has hit a new high. I am utterly distraught. I feel that I should have never gotten so wealthy when people are suffering so much.

"I've been seriously considering giving a large portion away, but the more I talk to people, the more I realize that to give away large sums of money responsibly and ethically turns my life into a job that I never wanted. I don't want my father’s money to become my life, my career or the most significant thing about me, even though I know that I benefit from it. I have privileges with it, it gives me options and frankly I could not afford to live in a big city without it.

"My questions are these: How much money is it ethical to keep, and how much would it be ethical to give away? What is the best way to decide who should receive the money? And how much time and responsibility and rewriting of my life do I owe this gift that often feels like a burden?"

Credit: Newyork times
Re: What Should I Do With My Big Fat Inheritance? by MatrixReloaded: 5:28am On Aug 31, 2022
A fortune is to enable the inheriter tuple on choicest of business. If the business that was left behind is active then I see no reason the latter won't continue where his father stop. Given out to anyone is not advisable rather invest and make profit which inturn shows his capability to give to others
Re: What Should I Do With My Big Fat Inheritance? by NJV: 5:32am On Aug 31, 2022
embarassed just send me part of it, I know what to do with it
Re: What Should I Do With My Big Fat Inheritance? by cayorday89(m): 6:19am On Sep 01, 2022
MatrixReloaded:
A fortune is to enable the inheriter tuple on choicest of business. If the business that was left behind is active then I see no reason the latter won't continue where his father stop. Given out to anyone is not advisable rather invest and make profit which inturn shows his capability to give to others
A valid point you made here, he can also employ people who genuinely need jobs and are ready to put in the work and reward them handsomely outside their normal pay depending on their output.
As a company, they can embark on community projects in rural areas to help them with what they lack as their CSR...
Re: What Should I Do With My Big Fat Inheritance? by chinae(m): 12:17pm On Sep 01, 2022
I couldn't deduce if it is a business or liquid (cash).

In any case:
You can setup a biz, manage and pay those that are legitimately working very well, in this case, the sum will continue to grow and more persons will benefit.

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