Robert Frank, author of the WSJ's "The Wealth Report," says it's wrong to use your money to incentivize your children to excel.  He thinks money should be given away with no strings attached or not at all:

So here’s my advice: If you really want to mitigate the effects of large fortunes on your kids, don’t leave them a large fortune. Let them find their own careers and success, rather than using money to dictate from the grave.

I disagree!  The whole point of accumulating massive amounts of wealth is to have the ability to incentivize your children, spouses, servants and lovers to excel.  My children receive nothing from me unless they earn it.  In fact, I give nothing to anyone except for demonstrated reliability and excellence.  Why should that change after I'm dead?


Photo (left to right): Buist Walker II, Chisolm Walker II and Octavio, the head gardener's son.