Why Property Is Not Always Best Things To Give Your Children

Why Leaving Property to Your Kids Isn't Always the Best Gift

We all want to help our children. Often, parents think leaving them a house or land – property – is the perfect way to secure their future. It feels solid, valuable, and full of love. But here's the thing: giving property isn't always the smartest or kindest gift you can leave. Sometimes, it can cause more problems than it solves. Let's look at why.

1. It Can Create Family Fights: Imagine leaving one house to three children. Who gets to live in it? Who decides if it should be sold? Who pays for repairs and taxes? This situation is a recipe for arguments. Feelings get hurt, siblings stop talking, and what was meant as a gift becomes a source of deep family conflict. Even if left to one child, others might feel unfairly treated.

2. It Might Be a Burden, Not a Blessing: Property costs money to keep up. There are property taxes, insurance, repairs (like a new roof or fixing a leaky pipe), and regular maintenance (like cutting grass or painting). If your child isn't ready for these costs, or if they live far away, the property can become a heavy financial and practical burden. They might feel stuck with something they can't afford or don't want.

3. It Doesn't Fit Their Life: Your dreams for your child might not match their dreams. The family home might be in a town they left years ago. The land might be in a place they have no interest in living or farming. Tying them down to a specific property can stop them from moving for a better job, starting a life somewhere new, or simply living where they choose. Your gift could accidentally limit their freedom.

4. It Can Make Them Dependent (or Lazy): While this isn't always true, sometimes getting a valuable property too early can make children less motivated. Why work hard to build their own life if they already own a house? They might miss out on the valuable lessons and pride that come from earning things themselves.

5. Selling Can Be Hard and Emotional: Even if your children agree to sell the property, it might be difficult. The real estate market might be slow. The house might need expensive updates to sell. Most importantly, selling a family home is often emotionally very tough. Letting go of memories can cause a lot of pain, making the practical process even harder.

6. It Might Not Be What They Really Need: Your child might have bigger needs than owning property right now. They might be struggling with student loans, need money to start a business, want to further their education, or need help buying a home that actually suits their current life. Cash from the sale of your property (if you sold it before passing) could often be far more useful to them.

So, What's Better?

This doesn't mean you shouldn't help your children! It just means property isn't the only, or always the best, way. Consider these options:

• Leave Cash: Money gives them flexibility to use it how they need it – pay off debt, invest, buy their own home, or further their education.

• Set Up an Education Fund: Help pay for their (or their children's) schooling directly.

• Invest for Them: Leave stocks, bonds, or money in a retirement account that can grow over time.

• Talk to Them: Have honest conversations about their goals and needs. What would truly help them most?

• Consider Selling Yourself: If managing the property becomes hard for you, consider selling it and using the money to support yourself or gifting it to them in a more flexible way while you're still here.

The Takeaway:

Leaving property comes from a place of deep love and wanting to provide security. But true security for your children often means giving them flexibility, freedom from burdens, and the ability to build their own lives. Sometimes, the best inheritance isn't bricks and land, but the resources and freedom to create their own solid foundation. Think carefully about what gift will truly support their future happiness and independence.