I think many people who have children would gladly do 10 year in prison at age 60 if it meant they could leave $400m in their estate. If we pretend for the sake of the argument (unrealistically) that there's no major ethical concern, and that the money can actually be kept afterwards, then I would definitely make that sacrifice for my children. They are more important to me than my own personal comfort.
> They are more important to me than my own personal comfort.
Which means you can have a bigger positive impact on their lives by being present than by giving them money.
Maybe, maybe not. At age 60 my kids will be grown up and living their own independent lives. They might even live a long distance from me. There are a lot of variables which might mean I don't see them very frequently anyway. Of course there will still be something lost if they can only visit me in jail for 10 years. But at age 60, I'll statistically only be around for another 20 years anyway and if I'm unlucky, maybe far less than that.
On the other hand, $400m can ensure that for the rest of their lives they and their children and their grandchildren don't have to worry about being able to afford a home, good schools, good healthcare, etc. With future issues such as the rise of AI, global warming, and the erosion of international law, there are many dangers ahead including potential mass disruption to job markets and ability to earn a living. I'd rest easier knowing that I've given my descendants a solid chance of surviving all that, even if it means affecting my relationship with them for 10 years. It's a balance between pros and cons.
I would not assume that giving my kids $400 million would be a net benefit to them.
Now to be fair I might be wrong, since I’ve neither researched this nor given it much thought. Maybe there is research on deca- and centimillionaire heirs that shows positive effects of money on life satisfaction, happiness, health and other life outcomes. However I suspect it works similarly to sheltering kids from adversity, failure and hardship in general: disadvantages them psychologically and leads to more problems down the line.