Kiplinger

To Prepare Your Heirs for Future Wealth, Don't Hide the Truth

For parents in families of multigenerational wealth, there are a lot of perceived third rails when it comes to discussing family wealth with your children. You may be afraid that when your child learns they stand to inherit a substantial amount of money, they will drop out of college and focus full-time on their rock band. Or that if you tell them about the family's wealth, they will use it against you when you set limits to the help you're willing to provide when they want to start a business. Another concern might be that an unscrupulous acquaintance or significant other may catch wind of their not-too-distant inheritance and try to take

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