If you are wealthy, and fear your kids will squander the spoils of your lifetime, then set up fire-proof accounting practices for them to draw money from the estate. Look at P. Hilton, Chab Zoltana, or Crew Mcquire. They would have gone through their inheritance in three days if given a chance. And that's on a slow day.

Forget not spoiling them. You can't avoid that. Being rich and privileged has this one drawback. But make sure that the spoiling can go on uninterrupted your children's entire life, so they don't have to fall, and fall big.