For myself, I hope that Mr. Seeler and I have enough to live in our own home with a few luxuries (like bowling twice a week or his model train hobby) and that if the time comes that we have to give up our home that we will be able to afford to rent an apartment in a senior friendly building. 

And that we will be able to leave enough to look after a simple funeral for each of us, and leave something for our children, and maybe even our grandchildren.  It won't be much.  Perhaps at some point I might ask them to pick out something in our house - a special Christmas ornament, my crystal vase and bowl, Mr. Seeler's trains, that they would like to have.  Maybe my granddaughter would like to sort through my jewellry (nothing special, but I do have a few pieces that I think are pretty nice).    And who would want my books?  

I don't think people should deprive themselves - but it does seem selfish to try to spend it all so that there will be nothing left for anybody and maybe the children would even have to pay for the funeral and deal with the debtors when there isn't enough to meet expenses.

My mom had almost 2 really healthy years after her diagnosis before she started to deteriorate.  I don't know about one brother but my other brother and I encouraged her to do some of the things that she really wanted to do like visit her brother in the states or go to Italy.  She absolutely refused.  She's left us enough that we could get some things done and  for a vacation next year and to stock some money away for somekid's education.  I really would have rather had pictures of her happy travels though.

I do NOT want money from my parents. I want my dad to have that big boat he always wanted, to get the bells and whistles to make it a joy to operate for two people with limited mobility; I want my parents to travel in 1st class all the way and to enjoy the time they have together. They are not young, and there are health issues.

I don't need money: I need them to be comfortable, happy, living "in the manner to which they've become accostomed".

I remember a neighbour in Kitchener when I was a teen or so had a Cadillac with a "I'm spending my kids' inheritance" bumper sticker on it.

We live a fairly simple, somewhat frugal lifestyle precisely so we can save money to use for trips, etc. Most likely, even if we don't try to leave an inheritance, there will be one simply because of our (mostly my wife's) careful approach to how we handle money. I do think the "we must do without so we can leave it to the kids" and "to hell with the kids, let's spend it all on ourselves" approaches are extremes and the ideal, as usual, is somewhere in the middle.

I guess my philosophy here is to manage your money wisely and, most likely, you'll be able to do what you want and leave some for the kids.

We should also be mindful that this discussion applies mainly to the middle class and above. Those in poverty may have few options and may well not have anything to hand down except debts.

Mendalla

I think what and how much you leave as an inheritance, to your children or other, depends upon many factors - both yours and those who you are leaving it to.  In the cases of those who have adult children who for disability reasons are dependent on them for their quality of life financially, those parents might feel a stronger need to be a little less spendthrifty and a little bit more conscious of what they leave behind.

Our familes both have a strong sense for helping the next generation, primarily through education funds or large monetary gifts to use a downpayments on first homes.  Inheritances, though, have not been their focus.  They have mostly seen a need for the money before they die, and have passed it on (divided fairly) before it could be part of an inheritance.  I also think they rather enjoy watching what responsible children do with it, than pass away and not know.

Consequently, that's my focus now - to have my children's educations paid for before they reach university, and to have money set aside for other things.  Sure, it's important to live a little, and we could take more trips, but not at the expense of being anxious over money, or my kids not having every opportunity they could possibly have.

My Mom spends, takes interest for her loan to me, and lives the high life, while I struggle. My Dad on the other hand gives and gives and plans well for his inherritance to me and my half sister. He helped us with the house, he paid for my nephew's education, and he bought an RESP for my son. I will aim to take after him. My Dad's household things have meaning, my Mom replaces her things when they go out of style. They both live well.

I belive that what my Mom does with her money is her business. We already know that when she is gone everything gets sold an devided by 4. We already have the heirlooms that she wants us to have. Personally I hope she continues to enjoy the fruits of her labours.

Our days are numbered and mommy and I are going to start travelling, and doing things while we can.  When we finally join the great energy pool in the sky, hopefully the bank account will be empty, and the kids can split the house and art. 

IT

Russ

Based on my own experience, I think most kids want to know more about you - who you were, who your parents were, and so on. I don't mean just family tree, though that's part of it. They want to know about the experiences they're descended from, what values you had, why you had them, how you thought of them....

I didn't expect my parents to help us out.  We lived within our means and put off things till we had saved.

Now that both have died, we all have inherited a bit, the sale of their house divided by 4.

We have saved for our kids education and are using that now for their university.

When we go, they will get some money but hopefully they won't need it to much as hopefully they too will be lilving within their means