Depending on your country, this can be the best way to pass on resources to your children without a hefty tax bill.

My son is still in middle school but when he graduates he will have over 100K for school because we started saving for this as soon as he was born and had an SSN, this is one of the biggest things you can do for your kids these days is lower or eliminate the debt that they will take on through post-secondary education. Further, we are encouraging him to go to a more modest school from a cost perspective, nobody is going to care where you went to school a decade later into the workforce. I suspect that he will have money left over at the end of his studies if he works a little bit during his schooling, especially if he stays local and lives at home during those years

My mother received a very large inheritance from her brother who never married or had kids when she was 87 years old. I know a lot of people that would have held on to every last cent of it until the very bitter end, she passed along 90% of this money within two days of receipt to her kids becasue again, keeping it till death would result in a far larger tax bill. Had she gone into care it would have all been taken for the income-tested costs. By giving it away she would be taken care of by the public purse once the amount she kept was exhasted.