Tim Eichhorn on Inheritance

One of the things that really kind of brightens the day as an advisor is when someone shows up and says, “Hey, I’ve inherited x number of dollars in an inheritance from my uncle or from my grandfather or from my parents, and I just need help doing things with this.”

And that is a wonderful opportunity because now you see the love that’s being passed down from one generation to another because they want that next generation to do something, and do something well in their lives.

So it’s a privilege for us as advisors to walk through that conversation with people when they say, “How am I going to pass this on? How am I going to give this to the next generation? What good can I do in the world with these assets that I’ve accumulated?”

We talk about investing and that’s what most people come to us for and I don’t want to make light of the investing, but investing is part of what we do, but the real value comes in having these conversations over the table, what is that you want to achieve, what is it you want to do, what is it that you want to help your children or your heirs do, and lets make a plan for that.

Let’s take documents, let’s take tax considerations, let’s take all the things that you need to complete your life, and let’s see how we can make others’ lives better.