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The Master’s Minute – Setting Your Kids Up Well

May 10, 2022 by Emily J. Hutto

Clients of Master’s tend to have a similar mind-set when it comes to finances and the future. Many of our clients believe they have accumulated and stewarded assets wisely so they could use God-given resources for God-given goals. As the next generation of investors enters the market, I can only hope that these values are being taught and carried forward.

After experiencing many years of various mistakes and victories, parents often want to pass their insight on to their children – I wouldn’t know quite yet, my husband and I are just expecting our first child later this year, but I know we are already thinking of all the things we can pass on to our child. There can be a disconnect between the experiences that shaped your view of money, and the circumstances that shaped what your kids think about money. You may have done quite well and accumulated assets early on, and the next generation may not have been able to do so with the drastic shift in the economic climate in the past few years, for example.

As a remedy to this disconnect, we have seen the benefit of family meetings. In these meetings, we help our clients discuss with the next generation some of the details of their estate plan, and more importantly, the heart and values behind the finances.

We are a values-driven company (hopefully you see that every time you interact with us!) and we put emphasis on aligning your values with your money. So, we believe it is imperative to pass along more than dollars. You do your family such a service when you pass along the values that got you where you are today. And hopefully this creates additional trust and open conversation around a topic that could be slightly uncomfortable or strange to talk about with adult children.

How can Master’s help you to impart your values to the next generation? How can we help you be confident that your family will receive more from you than just your money?

Filed Under: Master's Minute

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