Being a Good Steward of Family Wealth

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Doug Goldstein January 18, 2024

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Doug discusses what it means to be a good steward of family wealth and how to pass on your financial legacy to future generations. He provides advice for teaching children financial responsibility from a young age and bringing adult children into important financial discussions.

Key points:

  • The importance of passing on not just money, but also financial values and responsibility to heirs
  • Pitfalls of relying solely on professional trustees to manage family money long-term 
  • Even a perfect trust document can’t guarantee your wishes will be fulfilled long-term
  • You must focus on teaching your heirs financial responsibility while you’re still around 
  • Share information about your finances with grown children and bring them to meetings 
  • Getting kids involved with earning, saving, and giving at a young age 
  • Helping adult children pursue their goals without fully supporting them 
  • Utilizing specialized help like lawyers and financial advisors

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Watch Being a Good Steward of Family Wealth on YouTube.

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