Because building this matters more than the money
If you were to ask a class of Kindergarteners what their parents do for a living, the answers can be amusing. You’ll hear everything from, “My daddy talks on the phone” to “Mommy wears tall shoes and comes home with a headache.” It’s understandable; they’re five.
The funny thing is, I’ve heard adult heirs say the same things, but in a different way. They’ll say, “My parents worked hard and made a lot of money,” and that seems the extent of their knowledge. It’s as if many heirs have no awareness of what their parents did or what made them successful. They don’t know the motivation and reasons behind the hours, days, and years of hard work.
Part of your “wealth responsibility” is to set straight the thinking of your heirs on the major stories behind your wealth. Inspiring heirs involves telling (and even retelling) your story and allowing them to engage with you. I call this concept story building.
Story Building: If I help my heirs understand me, they can better understand themselves.
Don’t expect or assume they will do exactly what you’re doing. But they will understand your intentions – your heart – because they have become part of your story. The purpose is not to impress them or prove how successful or wonderful you are. The purpose and outcome are to give them a stronger context for their lives and to honor the legacy of the family.
A complete inheritance-preparation strategy is guided by how you want to inspire your heirs.
START TODAY to build that story by telling your story – verbally, in writing and with pictures.
Wealth is more than money. Don’t just plan for your future, live it right now.
Pass it on and share the insights like this that you find valuable.
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“Stories have to be told or they die, and when they die, we can’t remember who we are or why we’re here.”
– Sue Monk Kidd