Why is that the lion’s share of the education traditionally goes to the givers of the wealth, rather than the receivers of the wealth?
Let’s flip the switch and focus on creating great inheritors through continuous education.
Start early with simple concepts; help them at a young age to understand that money represents effort. This can be achieved in a litany of different ways, but a powerful tool can be stories. The story of your family and the creation of its wealth is a great place to start. Continue to build on this as your inheritors grow and take on their own wealth identities.
The education of your family doesn’t have to be something that rests solely on your shoulders; there are lots of great professionals here to help you. Lean on those around you. By prioritizing the growth of their financial literacy, you will help them to feel confident in the framework of knowledge they’ve built. Having the right infrastructure in place will empower them to retain and prosper under the inherited wealth.