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Originally Posted by boefixepa
If you have the money to pay you should, end of story IMHO. I think there is a major entitlement issue to deal with here. Let the kids earn their own money
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I agree completely. I don't think it's ethical to shield or divert assets and then turn to the govenment for medical care. That's theft, pure and simple.
Unless there's a darn good reason (like a mentally or physically handicapped child) I don't thinks kids should be entitled to any of their parent's money. I don't think inheritances should be protected via trusts if there are not enough assets to pay for other expenses.
Yes, the idea of working all of my life to accumulate a nest egg only to have it sucked away by medical expenses or long term care does depress me a bit, but that's the breaks!
I don't intend to leave my kids much money, if any. My goal is to die with a net worth of $5! If there is money left over, it will largely be split between several charitable organizations. I may leave a modest amount to my kids, but definitley not the bulk.