Just how many millions make for the perfect inheritance?
A new Merrill Lynch study of 206 wealthy individuals found that out of $100 million, they on average believed $63 million is too high an inheritance to leave your child, while a stingy $26 million is too low.
Roughly half of the high-net parents surveyed, who each had at least $5 million in investable assets, expressed concern that leaving an inheritance that was too high would give their children a "sense of entitlement," Bloomberg reports, which apparently wouldn't come with anything less than $26 million.
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The survey also asked respondents other financial questions about their estate taxes. While the exact amount for a perfect inheritance is debatable, 86 percent of those surveyed said they would "do as much as possible within the rules to minimize taxes." And while 91 percent of respondents said they wanted to give family members the majority of their money, only four percent named philanthropy as their top priority.
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