You've worked your entire life for your wealth. You want the next generation to be smart with it. You have been pleased with the growth in your portfolio. You may or may not want your beneficiaries to know what you are leaving to them.  You don't want them to squander it but you do want them to enjoy it. 

On the flip side, receiving an inheritance can be a challenging and emotional time. Many inheritors say they were largely unprepared, unsupported and uninformed about the inheritance process. 

This is the first post in a series on Wealth Transfer. This topic is on the forefront of our clients' minds as they begin the planning process. We are finding that not only are we helping them formulate their plans to give their assets to their children, we are helping the next generation in preparing to receive those assets.

Financial literacy is a new "buzz word" but what can you do? Here are three ideas that might help:

1. Educating your children on your financial values when they are young (as young as five!) helps them build financial confidence in wealth matters.

2. Reiterate your thoughts in everyday conversational situations like; grocery shopping, toy shopping and even conversations at the dinner table help reinforce those financial values.

3. getting your family involved in charitable work is a great way to teach about money and the value of giving back to their community. Share with them your own charitable giving plans. We have a great plan where you can set up your own individual or even family foundation.

For a more in depth look at this topic please click HERE. 

We would love to further discuss this with you so please give us a call at 403-299-7128 anytime.