Re:L.A.'s coast was once a DDT dumping ground, but no one co...
by sokoloff on Monday October 26, 2020 @09:14AM
(#24895791)
I think that's thinking about it backwards (at least partly).
My children are not entitled to my estate. My wealth is my private property, not theirs; I am free to direct its disposition as (my spouse and) I see fit. That's the essence of private property rights for the net-positive case.
For the net-negative case, it's a matter of practicality. Your personal debts die with you (they are settled as part of the estate settlement process and if the estate runs out of money, some creditors go without).
If you think inter-generational wealth continuity is a problem now, just imagine how much worse it would be if debt were passed along via negative inheritance.
My children are not entitled to my estate. My wealth is my private property, not theirs; I am free to direct its disposition as (my spouse and) I see fit. That's the essence of private property rights for the net-positive case.
For the net-negative case, it's a matter of practicality. Your personal debts die with you (they are settled as part of the estate settlement process and if the estate runs out of money, some creditors go without).
If you think inter-generational wealth continuity is a problem now, just imagine how much worse it would be if debt were passed along via negative inheritance.