Save More. Spend Less. Sacrifice Now. Sleep When You’re Dead. Serve Others. Lead the Family. Tick and Tie the Estate. Stick to the Budget. You know…adult!
Or don’t. And see how that goes for you. And your family.
Highlighting the wisdom of CPA Kurt Supe, most inheritances disappear within 18 months. Why?
“It's not bad investments. It's not lifestyle inflation. It's not bad advisors.
It's that 9 out of 10 wealthy parents spend 40 years building wealth and 0 hours teaching their kids how to receive it. Wealth transfers in a document. Wisdom only transfers in conversation. If you aren't having them now, START TODAY!”
We couldn’t agree more. At Forward Inheritance, we are creating a space and place for families to have better conversations between generations about the estate. It’s not about money (eventually, of course it’s about money), but the purpose of these conversations are about planning, paperwork, and process. Here are 10 conversation starters for your family.
As Mr Supe pointed out, most inheritances evaporate quickly due to lack of conversations, so that’s one way to destroy the family legacy. The other great way? Don’t do the paperwork at all! That way, the estate goes to the state probate courts so their heirs can waste years of time and energy while the state siphons off 20-40% of the total assets.
I’m obviously being a bit cheeky with this post, but it serves a purpose: Talk to Mom and Dad. Talk to the Next Generation. Talk to Grandma and Grandpa. Ensure the paperwork is in order. Double check that the plan is well documented and well known. Protect your legacy. Help your family thrive. Let’s help move ourselves forward…