Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation

Kids, Wealth, and Consequences: Ensuring a Responsible Financial Future for the Next Generation

By Richard a Morris and Jayne A Pearl

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Leaving children with a substantial amount of money can be a boon or a burden. This work enlightens high-net-worth parents about the unique issues they need to explore and address, such as investing and estate planning as well as emotional issues.

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Book Information

Publisher: Bloomberg Press
Publish Date: 02/17/2010
Pages: 288
ISBN-13: 9781576603482
ISBN-10: 1576603482
Language: English

Full Description

Leaving children with a substantial amount of money can be a boon or a burden. High-net-worth parents need to give their children an education to navigate today's complex world. The question becomes how to raise children with a sense of reality and balance, imparting a strong work ethic, and making them good stewards of their wealth.

Kids, Wealth, and Consequences
enlightens high-net-worth parents about the unique issues they need to explore. The book addresses the "hard" financial issues, such as investing and estate planning, as well as the "soft" emotional issues relating to values, family, and communication. Morris and Pearl detail strategies and techniques to help parents raise children who appreciate and know how to manage the wealth they inherit.

Richard Morris spent many years working for his family's multimillion dollar business, and learned firsthand the challenges of business ownership and family wealth.

Jayne Pearl is an experienced journalist who writes about families, family businesses, and money.

About the Author

RICHARD MORRIS is principal of Resource for Ownership Intelligence (ROI) Consulting, which helps family business owners grow and pass their business to subsequent generations. He is also an adjunct professor at Lake Forest Graduate School of Management. Previously, he spent many years working for the family business, Fel-Pro Inc.

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