By Bob Barber
I have just finished a book called “Family. Money. Five Questions Every Family $hould Ask About Wealth” by David Wills, Terry Parker, & Greg Sperry. It answers five questions to help readers navigate the common pitfalls of wealth and inheritance. Here are some impactful highlights from the book that I found thought provoking. I will include the five questions after the highlights.
- How a family handles money is a unique and integral part of each family’s culture. To create and pass on a Godly view of money requires a plan.
- Usually when a relative leaves an inheritance to a family member, they have the best intentions and love at the heart of the gift. But, there are so many challenges and dangers that can come with sudden lump sum inheritances, many times the gift turns into a curse if the heir is not prepared spiritually, emotionally, or with financial understanding.
- Maintaining healthy family relationships is more important than leaving a large financial inheritance.
- Many of the older generation find it difficult to have a frank discussion about money and inheritance with their family. The culture that they were raised in placed a taboo on discussing subjects such as your finances. So, rather that violate a perceived social standard, they never breach the topic.
The Five Questions
Who really owns the things you own?
What assets have been entrusted to your care?
When is it enough?
Where should it go in the end?
Why will your children’s children share your Family Stewardship Philosophy?
Would you like to discuss the above five questions with me? Are you confident your children are prepared to manage the resources you plan to pass on to them while they still carry out God’s plan for their lives? What will an inheritance accomplish in your children and grandchildren? Are they prepared to preserve, grow, and utilize wealth responsibly in their role as God’s stewards? I’ve had some great discussions with my family on these issues, and I would be happy to help you prepare for a discussion with your own family. Just call the office at 830-609-6986 and ask for an appointment with me to discuss “Family. Money.”