If you are involved in issues of family wealth, check out this week’s Barron’s. www.barrons.com. The quarterly Penta insert on wealth, estate planning, family money and how to manage all that is available right now at newstands and online. I’ve been subscribing for a while. It also has an excellent article about family trusts and creating incentives to get trust $$$ from that family wealth.
Palm Beach & Family Wealth
- Creating wealth is not the problem
- How your kids use, or mis-use, that wealth may be
- What are you doing to see that family money is not mis-spent, abused, mis-used and mis-applied
Pass on More Than Just Value to Your Kids — Pass on Values
- What are you doing to give your children, even adult children, an idea of how your family wealth should be used?
- Are you passing on your values?…. not just a lot of money
- Do your children have your values of hard work, thrift and savings and investing?
Q: How would you describe your children and how they use family money ?
Answer 1: hardworking, savers, ambitious, prudent, grateful
Answer 2: slackers, lazy, spendthrifts