Episode 3

Published on:

19th Jul 2021

Path to Abundant Living - Episode 3 (Preparing Heirs for Their Inheritance)

In the latest installment of Path to Abundant Living, Scott and Matt explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday?

It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards.

We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred.

So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew.


0:05 - Introduction and overview on today's topic

1:24 - Why inheritances overall can be a double-edged sword

3:50 - The internal and external problems beneficiaries can face during this process

5:55 - Where to begin with addressing these issues and help prepare the heirs

7:15 - What affluent families are doing and not doing when it comes to preparing heirs

9:00 - Where to begin with fostering a level of financial intelligence with future heirs

11:26 - An individual's. current view and actions with wealth can tell you a lot

14:32 - Is there an approach that's more appealing to educate an heir?

17:29 - Additional elements family matriarchs and patriarchs should be considering

20:10 - These education efforts are universal and shouldn't change depending on amount of wealth

22:00 - Who families can turn to for help with this entire process

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About the Podcast

Path to Abundant Living
What got you here, won't get you there
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.