Sun May 5, 2013
Shareholders ask Buffett's about not spoiling kids
OMAHA, Neb. (AP) — Warren Buffett has pledged to eventually give away all of the Berkshire Hathaway stock that made him one of the world's richest men, but he doesn't want to spoil his children.
At Saturday's Berkshire shareholder meeting, an estate planning lawyer asked Buffett for advice on how his clients should determine how much is too much to leave their children.
Buffett says parents' behavior is probably more important than the size of any inheritance because parents are the primary teacher for their children.
But the 82-year-old Buffett says he has been getting more generous as he ages, so every time he revises his will these days he tends to leave more to his children.
And Buffett says he lets his kids read his will each time it's changed.
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