Are Some Idaho Families Cursed - With Wealth?

As there seems to be two sidesto every story, there tends to be two views on family wealth. Is your familywealth (and the inheritance you leave behind) going to be a blessing or a curse to your loved ones?

If you are looking for someguidance on this matter, then consider two intriguing articles by the sameauthor. Each article reaches a different conclusion. The articles recentlyappeared in Forbes and are titled “Why Family Wealth Is A Curse” and “Why Family Wealth Is A Blessing.” Interestingly, the author is a memberof the family that founded the Georgia-Pacific Corporation.

The curses the author identifies are “too much too soon,” “too much ofa financial focus,” and “ingratitude.” In contrast, the author notes blessings that include “love,”“choices,” and “gratitude.”

So, how does one help ensuretheir inheritors land safely on the “blessings” side? The authorrecommends “open communication” and “teamwork” between and among familymembers across generations.

Although the article is written from the perspectiveof an “inheritor,” there is a lot to learn from it when making plans for yourestate. The take-a-way: failure to prepare (and protect) your loved ones regardingtheir inheritance can be harmful to both your inheritors and to your wealth. Good planning is no accident.


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