Discussing Your Wealth Transfer Plans With Your Beneficiaries

Hi, I’m Jeff Hall, Partner and Senior Advisor at Rather and Kittrell. It’s really important to discuss our wealth transfer planning with our heirs.

Discuss Wealth Transfer Plans so There are No Surprises

At the point that we pass away and our wealth is left to our beneficiaries, and our heirs, if they’re surprised by the outcome, they could experience something called the coping gap – and that’s the difference between what they expected and what actually happened. And at a time of emotional loss, that could be really difficult for some folks to handle. 

Discuss Wealth Transfer Plans so You Can Discuss Values

The second reason that it’s important to discuss these plans is that it gives the opportunity for the family to discuss their values and what’s most important to them. 

Discuss Wealth Transfer so You Can Discuss Money Management

And then finally, discussing wealth transfer plans with family also gives the opportunity to discuss wise and skillful money management with the next generation. If you’d like to learn more about how we help families clarify their wealth transfer goals, how to align their goals with their values, and how to communicate those goals to their family members, please visit us at rkcapital.com.