If you knew you could leave a longer-lasting legacy, make life better for your family, and relieve a mountain of stress, would you do it? For most people, the answer is yes. The question is how.
If this summer affords some family time at home or away, introduce a meaningful new tradition—the annual money chat. Done well, a family discussion about money can be a low-stress event that leaves everyone feeling closer and in control of their future.
Here are five tips for a successful discussion: Focus on values, not money A good family discussion leaves everyone feeling empowered. Focus on how you mojey your estate to create opportunities for others and be clear about your motivations. For example, be very specific about the kind of charities you want to support and why.
Start with a game plan Book time with your IG Wealth Consultant to discuss what you want to share and prepare a list. Together, you can create the agenda and they can help facilitate the meeting to ensure you cover all the important topics.
They can also provide you with a Personal Records Organizer in advance. It is a great tool to capture personal documents and share during your discussion. Be prepared to listen as much as you speak.
You may be surprised to hear that the kids may not want the burden of the family cottage. Pick the right spot Pick a place where there will be fog distraction but still comfortable enough for everyone to feel free to speak.
Consider an area of the house free mobey distractions like the dining room. You can even ask your IG Wealth Consultant to provide a meeting room if you think a more formal setting would be better. Set a time limit Set a time limit and either stop when you reach it or well before.