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Are My Heirs Prepared to Handle Our Family Wealth One Day?
Manage episode 408971185 series 3545463
Kandungan disediakan oleh Brian Dunckley. Semua kandungan podcast termasuk episod, grafik dan perihalan podcast dimuat naik dan disediakan terus oleh Brian Dunckley atau rakan kongsi platform podcast mereka. Jika anda percaya seseorang menggunakan karya berhak cipta anda tanpa kebenaran anda, anda boleh mengikuti proses yang digariskan di sini https://ms.player.fm/legal.
In this thought-provoking episode, we delve into a crucial question that many affluent families grapple with: "Are My Heirs Prepared to Handle Our Family Wealth One Day?" Managing family wealth isn't just about growing assets; it's also about ensuring its sustainability and responsible stewardship across generations.
Join us as Brian explores the multifaceted aspects of preparing heirs for the responsibilities that come with inherited wealth. We'll discuss the importance of instilling financial literacy, values, and a strong work ethic in the younger generation.
This episode is packed with helpful takeaways for your family and its estate planning efforts overall.
Chapters:
0:00 - Introduction and overview on the topic of the day
1:24 - Trillions of dollars are going to be passed down to heirs over the next two decades
2:30 - "Shirtsleeves to shirtsleeves"
4:05 - The interpersonal issues that can arise when wealth is transferred
5:33 - The ripple effect of your heirs not being ready to inherit family wealth
7:54 - What life looks like when your heirs are truly ready to inherit the family wealth
10:07 - How Plum Pointe navigates these conversation with clients and affluent families
13:25 - Engage, Educate, and Empower
16:15 - Identify your family values
17:46 - Instilling financial literacy in 10-19 year-olds
20:00 - Conducting formal family meetings to discuss the family goals and wealth
22:26 - Introducing your children to your wealth manager and advisors
24:21 - Advice for someone who needs to get started on this process
26:20 - Two stories about clients doing different levels of planning
30:11 - How to get in touch with Brian and his team
31:21 - Closing remarks
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