The Wealthy Cut Their Children Out of Their Wills

15 years ago 75% of individuals on the Sunday Times rich list had inherited their wealth, whereas in 2007, 77% were self-made millionaires (Sunday Times). This may explain why a third of ‘super-rich individuals’ (at least £5m in personal wealth) are thinking twice about leaving large inheritances to their children and instead leaving them to charity. It seems that these individuals value meritocracy and are including stipulations in their wills such as holding down a job or completing further education (The Herald). Those who have inherited their wealth see it as their role to preserve and pass down their wealth.