Your Heirs and Wealth: Fostering Purpose

Without the usual financial pressures of family wealth, how do you teach your children about money, work, and personal responsibility? Because the stakes are high at this point in your family journey, this article by NEPC recommends starting with the family fundamentals and a sense of purpose for the wealth. It further outlines a reliable 1-2-3 structure you can rely on to help put your heirs and their wellbeing on the right path. From there, you can create a family wealth story and mission statement, give your child a financial education, and define a long-term wealth management role for your heir.