Parents Say They Don't Plan On Leaving Inheritances To Their Children

11:16 PM, Jun 18, 2012   |    comments
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New York, NY -- Children fighting for a spot in their parents' wills might be out of luck.

A U.S. Trust report showed more parents are choosing to give their inheritances to charities instead of their kids.

In fact, about 32 percent of "high and ultra-high net worth" Americans said it isn't important to leave inheritances for their children.

Some admitted they would rather give their money to a charity or some form of research. Others said they just want to spend it on themselves.

Many of these parents think their children should earn their own wealth.

And, there aren't many parents on the other end of the spectrum. Only seven percent said they would leave inheritances for their children.

CNN Money