[callout]This episode originally appeared on the Family Before Fortune Podcast which is now the Modern Leadership Podcast. To listen to Modern Leadership click here. To see the Family Before Fortune Podcast archive click here.[/callout]
Episode Summary:
In this episode of the Family Before Fortune Podcast we continue our discussion of the new philosophy in family inheritance planning. I introduce and discuss the 3 step process to creating a plan for your family that will avoid the negative outcomes often found in estate planning. A process termed IRS Vision Planning- Identify, Record, Share.
On my bookshelf:
The Midas Touch by Robert Kiyosaki and Donald Trump
Interesting online webtool:
Kindle Reading App (on the desktop)
Main topic:
The IRS Family Vision Plan
I – Indentify what it is that you truly value in live. What you want to pass to the next generation
R – Record- Keep some sort of record of you values. I outline a few examples of how to do this and what you could include
S– Share- After you know what you want to teach to the next generation and have created a record that can be preserved you share the plan with the family