Points on the right way for parents to pass on their wealth to their children:

• Allocate at least 30% of your wealth for your own use: Don't feel obligated to leave everything behind for your children. Enjoy your hard-earned wealth during your lifetime.

• Don't subsidize your children's debts: If your children are financially stable, don't take on the burden of paying off their loans or expenses.

• Tailor the wealth transfer based on your children's needs: If they have special situations like disabilities, provide ongoing financial support. For financially independent children, the inheritance can be more of a discretionary gift.

• Fully account for all your assets: Ensure there are no hidden or undisclosed assets that could cause disputation later.

• Consider empowering the surviving spouse: But evaluate if they have the financial ability to address the inheritance.

• Examine the legal and tax implications: Especially if your children live abroad, to ensure a smooth and compliant transfer.

• Don't leave behind assets your children don't want: Liquidate and convert them to financial assets instead.

• Make a valid will: To incorporate your precise bequests and wishes, rather than relying on neglect inheritance laws.

Also Read: Under what circumstances might a trust be set aside in your jurisdiction on grounds of sham or for any other reasons.