This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Money & Finance
Leaving Money to Family Is A Burden If They Didn’t Earn It
Do You Need A Formal Will?
Six reasons I don’t need a formal over-thought-out will:
I don’t have kids.
I don’t have debt.
My partner is financially stable.
I don’t have many material possessions.
I don’t have people financially dependent on me.
I want to be cremated and not on long-term life support.
And everyone close to me knows all of these things.
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After much familial and mentor pressure, I kept stressing about putting a formal will together. But then I decided to think for myself and question the reasoning, and I have six good reasons I don’t need to stress about life insurance and a formal over-thought-out will.
When I die, I’m gone; I won’t give a f*ck what happens to my money, and neither should anyone else; it’s not theirs (aside from my beneficiaries). Recently, I released the following article: When I Die, I Don’t Care If You Fight Over My Money to emphasize my point.
But I want to take this idea further.
We Don’t Need To Always Save The People We Care About.
In other words, we don’t need to feel obligated to give people “the Dream Life.” How often do we stress ourselves trying to care for people who can care for themselves?
People who accumulate modest or great wealth often feel inspired to provide “a better life” for their loved ones – giving them what they never had. But at what cost?
To an extent, it’s lovely to offer your family enriching experiences, gifts, and generosity (within limits), but it can often backfire into an unhealthy pattern of expectations others have of you.
I don’t want my extended-nuclear family to be financially dependent on me. I prefer to help and teach people how to fish to experience financial independence: one of the greatest gifts you can give yourself.
“The people who have the most money – like Warren Buffett and Bill Gates – give it all away and use it for good. They understand that leaving money to their family is a burden if they weren’t the ones who earned it.” – Tim Denning
Greed Is A Common Theme.
People change when the death and money combo comes around.
My mother and her five siblings received an inheritance. Two siblings split the inheritance instead of sharing the inheritance with their other four siblings.
This doesn’t always happen, but greed is a common theme amongst families that run into money. Look at history; it’s what got us to the point we are today; it’s what landed us here all here in America.
Why do people get so antsy about other people’s money? It’s frivolous- especially when it was never yours in the first place.
Generosity can also be given to people outside of your family. We often forget there are many others who need and could use our help. The world is much bigger than our families.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.