A Failure to disprove the terrible Heirship Stats
After catching wind of recent Heirship statistics shown here in Part 1…
Well …. the dramatic failures of Heirs continuing the legacy – We still find these hard to believe, mostly because after almost four decades of doing this, we have not seen this occur…
We set off to collect our first hand experiences to show what we have seen work best….
Observations from Four Decades of Heirship Experiences
The Apple does not fall too far from the Tree – If the parents are frugal/savers/conscience the kids will be – Can be outliers, but we have seen this as more of the norm.
Similar to point one – Do as I say! does not work – They are watching and will do as we do!
Ignore the Jones – Someone always has a bigger boat –
Compromises are shared as the chapters go – Legacies that share rather than hide tend to build great Habits
The Amount is much less important than the habits – Almost no amount of money can withstand bad Heirship habits
Delays are frustrating to Heirs, but helpful especially at younger ages – We like 25,30,35 at the youngest for delivery of inheritance, with later adjustments being made in many cases
The Absolute best transitions we have seen are when we have had very early contact with the next generation – I know, this sounds self serving, BUT THIS IS THE TRUTH – and really makes for a very solid trasition!
So maybe some type of Manifesto of what we have seen….
The great majority we have seen/experienced are successes… Certainly there are complete failures… There are circumstances in some case i.e. Health and life related inhibitions…. but for the most part HUGE successes!
Our four decades of experiences are WAY better than the stories/statistics found !
Have a Great Heirship Successes Day!
John A. Kvale CFA, CFP
AI Content Authenticity: AI created the Legacy tree. All of the following text content has been completed by myself and has not been edited or created by AI. Occasionally we do use AI for images and will note when appropriate.
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth
Management firm.
