August 28, 2009

How do I communicate with my family about my wealth transfer plans? (The Talk Decision)

In this short video (1:42), Ron continues the Virtual Feedback Loop series on the topic of wealth transfer. This week, Ron speaks to the sixth and final step in the wealth transfer process, the talk decision, by sharing about how to create proper expectations within your family. We welcome your comments on the blog and thank you for your ongoing participation in the Virtual Feedback Loop!

Also, we are in an exciting time at MasterYourMoney.com as we are getting ready to unveil “Phase Two” of the site in the coming few weeks. We really hope that you will continue to enjoy this blog and the video answers and that you will enjoy the new structure and expanded features of the site. Check back soon to see the changes, and let us know what you think by emailing info@masteryourmoney.com!

As always, Ron’s encouragement to you is to go back to God’s Word to restore your faith. Take a moment to consider the following Scriptures about the inheritance that God offers to us, and meditate on their Truth and their application.

Colossians 3:21 (ESV)
“Fathers, do not provoke your children, lest they become discouraged.”

Genesis 1:26 (ESV)
“Then God said, ‘Let Us make man in Our image, after Our likeness. And let them have dominion over the fish of the sea and over the birds of the heavens and over the livestock and over all the earth and over every creeping thing that creeps on the earth.’”

Matthew 11:28 (ESV)
“Come to Me, all who labor and are heavy laden, and I will give you rest.”

John 14:1-3 (ESV)
“Let not your hearts be troubled. Believe in God; believe also in Me.  In my Father's house are many rooms. If it were not so, would I have told you that I go to prepare a place for you? And if I go and prepare a place for you, I will come again and will take you to Myself, that where I am you may be also.”

2 Peter 1:3 (ESV)
“His divine power has granted to us all things that pertain to life and godliness, through the knowledge of Him who called us to His own glory and excellence.”


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Related Articles & Links:

“Let us not be satisfied with just giving money. Money is not enough, money can be got, but they need your hearts to love them. So, spread your love everywhere you go.” – Mother Teresa

Kate Redden, of the National Planning Group of Ronald Blue & Co. writes about communicating your estate plan with heirs.

Dennis Rainey of Family Life Ministries discusses how to pass on core values to your children.

Ron Blue and Jeremy White’s book Splitting Heirs has a more extensive discussion of this topic on pages 183-197.




Video Transcript