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Coming into Money:
Preparing Your Children for an Inheritance
T A B L E O F C O N T E N T S
1. Introduction
What are your own issues around money?
2. When Your Children Are Young
Learn to recognize, and avoid, enabling your children.
Show your children that you love them by spending plenty
of time with them.
Don't try to protect your children from the rawness
of life.
Encourage your children to develop the competence and
confidence that
come from learning how to do things for themselves.
Start teaching the value of work early: give your children
chores.
When teaching your children, always strive for balance.
The best way to teach healthy values is to model them
for your children.
Help your children learn how to handle money responsibly.
Speak honestly: talk about money with your children.
When you talk about money, be positive. Avoid negative
messages.
Tell your children about the good things your family's
wealth has accomplished.
Teach your children to share their wealth, and start
early.
3. Transferring Wealth to Your Children
Self-esteem and life purpose: Instilling a work ethic.
When should I tell my children that they will receive
an inheritance?
How can I prepare my children for their inheritance?
What is an appropriate age to start giving my children
money?
The paradox of choice
How much money should I give to my children?
No money at all?
How much control should I give my children over the
wealth they will receive?
Secrecy vs. openness
Trusts
4. Three Families, Three generations, Three Stories to Inspire You
A work in progress: Geoff and Mary's family
Taking responsibility for one's life: Diana's family
Empowerment: The Trudeau family
References
Appendix: "Brat-proofing your child" from Children
of Paradise: Successful Parenting for Prosperous Families by Lee
Hausner, Ph.D.
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