|
|
 |
|
| Advisors' Forum |
Keeping Up
01/01/2008
|
Reframe the question. Transition your perspective from that of a couple to a family. Push
to go beyond yourselves and think about the future of your children. While
short-term solutions such as separating your money or creating a budget might be
helpful, they are likely to be superficial fixes. They would deny the two of you
the experience of struggling together to create a vision of how you want your
children to find meaning and purpose while growing up amid wealth.
Working with an advisor, have a broad discussion—beyond your
husband’s behavior—of how you would like to influence your children’s view of
money and wealth. Starting questions could include: What does wealth mean to
each of you, and how did your view develop?Who in your lives served as role
models? How do you envision your children receiving the gift of being born into
wealth as they reach young adulthood? Given that view, what will be required of
you as parents?
This critical point in the life cycle of a young family is a
chance to develop the principles that will guide how you model for your children
your philosophy about not only financial wealth but life’s purpose.
Fran Lotery, Relative Solutions, Los Angeles, New
York
Send Us Your Questions. Are you wrestling with family issues, business governance or succession
decisions, investment or estate planning dilemmas, problems related to
philanthropic activities or foundations, or a similar predicament? We invite you
to email a question to advisorsforum@worth.com.
|
|
|
|
|
|
|
