When planning what to leave behind for your children, it’s natural to think of homes, land, jewellery, or prized collections. These have traditionally been seen as valuable assets that hold both financial and emotional significance. However, in today’s world, they may not always be the most practical gifts for your loved ones — especially when younger generations value flexibility, mobility, and financial independence over material possessions that require maintenance and care.
Today’s younger generation is more ambitious, self-reliant, and globally connected. They often pursue careers that take them to different cities — or even countries — meaning large physical assets like ancestral homes or extensive collections can feel more like a burden than a blessing. Many may feel overwhelmed by the responsibility of managing and liquidating such inherited assets, particularly when those assets require ongoing costs, upkeep, or complicated sale processes. This makes it crucial to carefully consider what to pass on — and what might be better left out of your legacy.
Financial investments like mutual funds, stocks, and bonds are among the most practical, flexible forms of inheritance. These assets can be easily transferred through a will or nomination, ensuring your children receive immediate financial support without the hassle of maintenance or legal complexities. Additionally, financial assets hold the advantage of liquidity — they can be quickly accessed or sold to meet your children’s evolving needs, whether that’s funding higher education, buying a home, or investing in their own business ventures.
Bank deposits, pension funds (such as NPS), and investment accounts are equally valuable when planning your estate. These can be seamlessly transferred to your heirs, offering a financial cushion without requiring them to make difficult decisions about what to keep or sell. In times of financial uncertainty or emergencies, such funds can provide stability and peace of mind — an invaluable gift for any generation.
However, not all assets make ideal inheritances. Collections of antiques, jewelry, and art — while deeply sentimental to you — may not hold the same emotional or financial value for your children. Tastes and lifestyles change, and what once adorned your home with pride might not suit your children’s more minimalist or modern preferences. Moreover, selling such items is rarely straightforward. It often involves professional appraisals, finding niche buyers, and navigating a market where sentimental value doesn’t always translate into monetary worth. For many heirs, these types of assets become more of a logistical headache than a cherished legacy.
Family businesses also pose a unique and complex challenge. If your children aren’t already involved in the business or passionate about running it, inheriting it can turn into a heavy obligation rather than an opportunity. Managing a company — especially one they didn’t build — requires time, expertise, and often a significant emotional investment. Without a clear succession plan or prior involvement, they might face tough decisions about selling the business, restructuring it, or even shutting it down. In such cases, selling the business while it's profitable and passing on the financial proceeds may create a far more secure, flexible, and positive outcome for your children.
Ultimately, the goal of any inheritance is to empower your children — not weigh them down with complex decisions or unwanted responsibilities. A thoughtful balance between emotional value and practical utility ensures your legacy supports their future, providing them with financial freedom and the ability to make choices that align with their own dreams and aspirations. By carefully selecting which assets to pass on and which to reconsider, you’re not just leaving behind wealth — you’re creating a lasting gift of security, opportunity, and peace of mind.
