Helping Your Children Prepare for an Inheritance

If you’re not used to having conversations surrounding family wealth, it can be an uncomfortable experience that can lead to in-fighting and a breakdown in trust. That’s especially true when talking about inheritance: older generations often question if their kids are ready to grow into their roles as stewards of wealth, and younger generations often let inexperience and a fear of being judged keep them from asking important questions. Melanie Schmieding, CTFA and Director of Baird Family Wealth, offered six strategies to foster communication and to keep misunderstanding from sabotaging these crucial discussions.