Well that's taking it to extremes. If your wealth and your desire to protect it affects their people, you have to take a long look at yourself.
Honestly, my parents were the same. They made good money so I didn't qualify for a grant to university, but they wouldn't pay for me to go either. So I went anyway and worked 30 hours a week in shitty jobs, while also doing 30 hours a week in lectures at uni.
Now this is why I don't talk about money with family members . They wouldn't help me, so I won't help them.
I can tell you my kids have a good life. They don't want for much. I do say no, they aren't spoilt. They have to realise some things they will have to earn for themselves, and if they really want it they will find a way to achieve it. I hold high hopes for their future.
Given the little I know about your situation I'm hoping you'll do the same for your kids, when the time comes. I knew some people once, a long time ago. Rich parents. They just grew dreadlocks and smoked week because mum and dad brought them food parcels, and I quote "I don't need to get a job, I just need the old man to die and I'm set for life".
I lost contact with them pretty quickly after that.