'The best-prepared families discuss values, not just valuables'

The Team from Momentum Waikato

Here's some wisdom from financial advisor Katie Wesney, in a recent Stuff column...

"The antidote to inheritance drama isn’t complicated: start talking.

The best-prepared families discuss values, not just valuables. They talk about timing - could part of the inheritance be gifted earlier when it might have more impact? They update wills regularly and include everyone in understanding the bigger picture.

They also acknowledge that financial literacy isn’t inherited along with the money. If you’re expecting to leave or receive a significant sum, everyone involved should understand how money actually works.

And here’s the crucial bit: they treat inheritance as a nice-to-have, not a financial strategy. You can’t control when it comes, how much it is, or who else might need support."

If your values include supporting charities that tackle the issues you care about, and or the community in which you've thrived, then after taking care of your family, including a bequest in your Will to create a philanthropic endowment that gives back forever is a wise and effective strategy. Contact us at Momentum Waikato to find out more - via momentumwaikato.nz....

You can read more of Katie's column at the link below.