At the Alchemia Group we are helping our clients think & act differently in regards to their wealth and its impact on thier family - because we know it is more than just numbers and plans, it's the Balance of Art & Science with Pragmatism and Vision.
“Leave enough so the children can do anything but not so much that don’t have to do something.”
This is the general advice given to wealth-owners who question how much inheritance is enough. In an 1891 essay, Andrew Carnegie conveyed a similar sentiment.
The parent who leaves his son enormous wealth generally deadens the talents and energies of the son, and tempts him to lead a less useful and less worthy life than he otherwise would.”
The messages about transferring wealth from one generation to the next go on and on, but they all hold an ambiguity that leaves many wealth-owners scratching their heads. Eventually, some wealth-owners throw up their hands and say, “I’m going to leave them enough to buy a house and give the rest away to charity!” Or they say, “I started with nothing, so I’ve already given them enough!”
Most often, the decisions are fraught with anxiety, fear, and doubt, but the process of defining an inheritance does not have to be this way. The process can be positive and even fun, drawing a family closer together and creating an indelible mark on your descendants’ lives—even after you are gone. We’ve added a guide that can help you with this process. Click here to access it.