Early Inheritance?

My brothers read a book called Die With Zero

In Die With Zero, Bill Perkins suggests giving inheritance to your children when it has the most impact—typically between the ages of 26 and 35. He argues that waiting until you die to give them money is inefficient, as people are less able to enjoy it as they get older. He emphasizes planning for inheritance early so your kids can benefit from it when they need it most, rather than receiving a random sum at a random time. This way, you maximize the value of your gift.

I think this is a great idea if your parents have money to give.  I’m 44 this week, and I am also the oldest, so if my brothers convince my parents to do this strategy, I won’t complain.  I do find it funny how little people talk about money and inheritance and passing off assets to progenitors.  It seems like it should be done with lots of planning and discussion.  However, everyone I know that has had parents go to other side, passing down the wealth was done with much complication and confusion.  

I am planning to create a family foundation and my children will be responsible for giving money to causes. They will be paid a very good living wage to help them do this.  I hope to do this around their 25th birthday when their frontal lobe is developed.  I hope at this time they have done whatever schooling or training they want and hope they have flexibility to choose whatever path in life they want to create value. My gift and wage is just a bonus.

The inheritance I feel is most important is not money but real estate and equity.  I hope my girls keep our land in the family for years.  I hope they want to keep ownership in the businesses we invested in and operate.  They will also inherit all the books and works I have yet to write.  I want them to realize that words mean something.  I see very little monetary value in these daily writings or other journals I have created, but they are made with intent as a correspondence to them.  

One day they will read these words, maybe soon, and I hope they feel me and understand a bit of what I thought was going on down here.  I am excited for their kids to learn about me and Natalie and talk to our AI and hologram to get to know us. Surely we will all have holograms we will interact with at our grave site.

Happy 4:20 folks

Scott X