Welcome to Path to Abundant Living, where we address pertinent topics surrounding wealth management to help better position yourself, your family, and your business for success.
Listen as Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, tap into their wealth of financial experience and address various strategies and services they utilize for their clients.
So sit back, relax, and enjoy intriguing financial conversations that place you on path to abundant living and help you navigate the rest of your life.
Many of us have thought about how to best transfer our wealth to our heirs someday. Unfortunately, parents and grandparents with significant assets don’t always spend enough time on passing along the values that helped them build, grow and maintain that wealth.
On the latest installment of Path to Abundant Living, Scott and Matt are examining the importance of transferring financial values to our kids and some of the best methods to do so.
Sit back, relax, and enjoy another enlightening episode that’s bound to leave you with some considerations for your own heirs!
0:06 – Introduction and overview on the topic of the day
1:52 – The issues and challenges that arise when values aren’t transferred to heirs
3:20 – The types of heirs that better avoid these issues
5:15 – The first step in educating your heirs on values
7:39 – Ongoing communication is essential
10:08 – The ideal times or moments when these financial discussions will resonate with heirs
12:35 – Action steps that matriarchs or patriarchs can take to begin instilling values with heirs
15:30 – Advice for families that are working together to manage a business
18:25 – Final tips for transferring values to heirs
22:00 – How you can get in touch with Matt and Scott for additional information
23:33 – Closing remarks
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