Inheritance...But When?

I have been quoting @KurtSupeCPA via X often in these posts, as I find his perspective to be interesting and helpful. I came across a reply to one of his tweets from @FluentInFinance which reads:

Inheritance is a stupid idea.

Pass on your wealth while you’re alive. Kids don’t need help in their 50s to 70s.

They need help in their 20s to 40s paying off debt, buying homes, raising children, and starting businesses.

It’s a refrain that I am hearing more and more. There’s the Die with Zero book, programs dedicated to Holistic Longevity, and we talk about Living Your Legacy, not just leaving it. But what does the data say? Via our friends at Alts.co via the WSJ:

It seems to me that two fundamental things need to be(come) true: 1 - Parents getting comfortable with helping the next generation without unduly impacting themselves and 2 - The next generation getting comfortable with talking about the process of inheritance without discussing the numbers. 

This is not about the dollar amount. This is about ensuring that the family keeps the inheritance in the family. Without proper paperwork, planning, and transparency, the family won’t enjoy the inheritance…the tax man, the lawyers, and the government will. We can help ourselves and move our families forward…