It Is Important to Prepare Your Children for an Inheritance
It may be awkward to discuss your wealth with your children. Talking about how much money or property you have is usually viewed as taboo. Asking someone else about what they have is often considered impolite. But failing to talk to kids about how much they may inherit could leave them unprepared to handle even a modest amount, and often results in the money being squandered quickly. Baby boomers are considered the wealthiest generation and are set to pass that wealth on to their children. It's estimated that $68 trillion will be passed down from boomers within the next few ... Read More
How to Pass On Your Heirlooms and Forego the Drama
Passing down heirlooms from generation to generation is a cherished tradition that transcends time and culture. These tangible mementos of our family's history hold sentimental value and can help keep the stories of our ancestors alive. However, we often unwittingly pass on unresolved family tensions and disputes alongside the passing of precious heirlooms. It is essential to recognize the potential for family drama when planning your estate to ensure a smooth transition of your legacy. This blog post will explore the importance of mindful estate planning, open communication, and preserving family harmony to ensure that your heirlooms are embraced with ... Read More
Preserve Generational Wealth With 3 Tips
Have you considered what is required to preserve generational wealth and your legacy? Or the impact an inheritance will have on family members in different stages of life after you are gone? You may worry that children and grandchildren will lose motivation and work ethic after they inherit. Some beneficiaries may experience favoritism, or relationships could dissolve over trivial disputes. How can you ensure their inheritance contributes to generational wealth and is used to achieve a better future? Your loved ones must be ready for this new responsibility. Ideally, an inheritance will improve their lives while ensuring its use follows ... Read More
