Reasons You Want to Prepare Your Heir
- Teach your future millionaire to use your hard earned money for opportunities not excesses.
- Train an heir to handle personal finance investments.
- Build and uphold your heir’s self esteem.
- Foster your heir’s drive and perseverance.
- Allow your heir to handle relationships with others.
- Ensure your heir knows how to perform wealth management.
- Give your heir practice and experience handling challenges.
- Let your heir avoid arrogance.
- Help your heir make the family values, culture and legacy their own.
- Show your heir how to pass on the family legacy.
- Avoid riches to rags in 3 generations for your family.
Sources:
Preparing Heirs Five Steps to a Successful Transition of Family Wealth and Values by Roy Williams & Vic Preisser
Strategy for the Wealthy Family Seven Principles to Assure Riches to Riches Across Generations by Mark Haynes Daniell
