Real Evil - Inheritance

This is so wrong, massively wrong.

The pain and suffering of billions of unborn kids who will be losers of the birth lottery will be massive and immense in a scale that humanity has never seen. 

Without coming up with a way to control this stupidest idea of automatic inheritance, lot of problems in the world cannot be fixed.  In other words, this is one of the very few fundamental problems in the world. 

Just because A fucked B and C was born hence C gets everything A & B worked hard for in their entire life while C did zilch in life is wrong. This will be one of the the primary root causes that capitalism is failing and might cause democracy to decline in future, 

To state the obvious:

1. We need to segregate the process of defining and understanding a problem vs finding a solution. I am defining a problem here. I have no idea how to solve this problem. I think most of humanity will agree this is a problem. But disagreements come when you start confusing solutions with the process of defining the problem. 
2. Identifying this as a problem doesn't define me nor anyone as a communist or socialist. Fuck communism and socialism; its is proven over and over again as bad ideology not even close to a solution for any problem in the world. 
3. This is the time most people should start understanding this problem and agree that we have to find solutions to this issue. 
4. Solutions might not come for years or decades. 
5. Implementing the solution after #4 might take years or decades. 
6. So good luck sapiens. Max and I will not be alive to see what unveils. 

I have seen a few academic papers but not even is writing or talking about this a fundamental problem. I have been screaming about this for over two decades now. The birth-lottery a.k.a inheritance is the cancer which has potential to destroy democracy. Beware.

Gen X and Millennials Will Inherit Trillions in Real Estate Over the Next Decade - and this is just real estate (this doesn't include cash, 401K, investments et al.). 

Baby boomers and older Americans have spent decades amassing one of the largest concentrations of private wealth in history. Now, that wealth is starting to be passed down to the next generation—and it’s having a ripple effect across the high-end property market.

Over the next decade, roughly 1.2 million individuals with net worths of $5 million or more are projected to pass down more than $38 trillion globally, according to a new report from brokerage Coldwell Banker Global Luxury reviewed exclusively by The Wall Street Journal.

Real estate is poised to play a significant role in the great wealth transfer. Gen Xers and Millennials are set to inherit $4.6 trillion in global real estate over the next 10 years, according to the report, which incorporated data from research firms Altrata and Cerulli Associates. Nearly $2.4 trillion of that property is located in the U.S.

Real-estate brokers, attorneys and family offices say they are already seeing profound changes in who buys luxury homes and how purchases are structured. High-net-worth families are bringing children into conversations about inheritance earlier and making high-stakes real-estate decisions sooner.

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In Manhattan, for instance, family money is accounting for an increasing share of major transactions.

“The price points have just gone wild,” said Ian Slater, a Compass agent who works with ultrawealthy families in New York. “I used to commonly see people buy $3 million to $5 million apartments for their 25- to 30-year-old kids. Now I see people buying $15 to $30 million apartments for their kids.”

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Americans with a net worth of more than $5 million are expected to pass down about $17.3 trillion over the next decade. Centimillionaires—those worth more than $100 million—hold roughly 43% of that wealth, according to the Coldwell Banker report.

With so much at stake, many families are preparing their children by starting conversations early.

When Bobby Castro, 58, began planning how his money would one day pass to his children, he said he was driven primarily by fear that the fortune he and his wife built would be squandered.

“I read there’s over a 70% chance Gen Two—meaning my children—will wind up blowing all the hard work that the creators of Gen One, my wife and I, did,” he said. “And that is a scary stat.”

As a result, he and his wife, Sofia Castro, 54, who live in a sprawling waterfront home with a private dock in Fort Lauderdale, Fla., began building what they call their “100-year legacy plan.” Bobby made his money by founding and later selling a financial-technology company called Bankers Healthcare Group and using the proceeds to amass a real-estate portfolio along the way. The family is now worth about $500 million, he said.

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In cases where multiple siblings inherit one property, things can get complicated, particularly if a plan isn’t put in place before a parent’s death, Cole said. 

“Kids have kids, spouses get involved and complexity becomes more of an issue,” he said. “One wants to keep it because there is sentimental value, one wants to sell it because they want the capital out. There’s a lot to untangle.”