If you’re like me, the unity of your family is important! Inheritances may not be everyone’s favorite subject, but planning now will yield can greatly benefit the whole family in the future.
So what does Paris Hilton have to do with it?
Well, we cringe when we see what Paris Hilton and others have done with their inheritance.
Think about how you would feel, if she were your granddaughter and she was using your money to ruin her life.
Most people are not aware that you can design your legacy with incentives.
You can’t control everything your heirs do with the inheritance you give them. However, you can design incentives to reward behaviors that you value; e.g. getting an education or starting a business.
Having incentives to do things is often what pushes people into action.
Thankfully, there are ways to leave an incentive-based legacy to your children and grandchildren, while protecting family unity and discouraging Paris Hilton syndrome!
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