In a recent interview with the British newspaper Daily Mail, 62-year-old rock icon Sting announced that he won't be leaving his $300 million fortune to his six children. This decision about his financial legacy continues to make global headlines—and to be picked apart by those quick to judge.
The announcement came as a shock to many, but his decision seems to reflect his stance on ethics as a parent rather than any spite on his part.
Sting's approach to "parenting from the grave" is a great example of the decisions that need to be made during the estate-planning process. In his case, it was a choice to encourage his kids' self-sufficiency by maintaining their strong work ethic. Others, however, make similar decisions out of fear of their children's spending habits.