So how’s this one for teaching your kids a lesson about life and money – leave your entire inheritance to your great grandkids.
That’s what Wellington R. Burt did – the lumber baron from Michigan died in 1919 with millions of dollars, and didn’t want his kids to have to worry about bickering about money. So, he did what any good father, grandfather and prankster would do: he requested in his will that his wealth be distributed to the family 21 years after the death of his grandchildren.
I didn’t see what killed Burt, but I can imagine dude must have laughed himself to death.
Burt did take care of his family while he was alive – his “favorite son” would get $30,000 every year from Burt. And back then, $30,000 must have been like $30mil. The other kids got allowances equal to the chef and chauffeur’s pay.
Christina Cameron, one of the benefactors, and Burt’s great-great-great grandchild, got $2.6 million. The rest of the fortune was valued at more than $100 million. Cameron says that she’s pretty sure that Burt “didn’t like his family back then.” Burn!
Kudos, Wellington R. Burt. You taught your kids a lesson about money. I think.
Sauce: Wall Street Journal