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Passing Down Wealth Without Spoiling Heirs 101
Manage episode 509874539 series 3312321
Passing down wealth may sound simple, but the reality is much more complicated! In this episode, we cover why leaving money to the next generation is tricky, including surprising statistics on how quickly wealth can disappear, and compare the experiences of first-generation wealth builders with their heirs. You'll also hear different ways to prepare kids for an inheritance and discover useful estate planning tools and trusts that can help protect your legacy.
Read the episode transcript, show notes, or watch the video version at thewealthmindsetshow.com/s2e21
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Chapters
1. Passing Down Wealth Without Spoiling Heirs 101 (00:00:00)
2. Life Updates: Back to School, Teacher's Pets, and Wilson Academy (00:01:12)
3. Why Passing Down Wealth Is Tricky & Some Shocking Stats (00:03:00)
4. First-Generation Vs. Second-Generation Experiences (00:05:30)
5. How to Prepare Heirs & Kids for Inheritance (00:07:05)
6. Practical Trusts & Estate Planning Tools for Passing Down Wealth (00:18:30)
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