Not Your Average Financial Podcast™

Not Your Average Financial Podcast™


Episode 295: How to Prepare Your Family for an Inheritance

April 28, 2023

In this episode, we ask:


  • What do you say to someone when you know it’s the last time you will ever speak to them?
  • How do you say something loving and honoring?
  • What are the most important and pressing issues?
  • Who is prepared? Who is not prepared?
  • How does true wealth come through assets plus skills?
  • What about the mindset and skillset that’s needed?
  • What about education?
  • What about buying a home?
  • What about mentoring the next generation?
  • What about leaving a family fund?
  • How might one create a family fund or family reserve using Bank on Yourself® type dividend paying whole life insurance?
  • What about creating a long-term, safe and sure wealth bucket?
  • What about instantly creating a legacy and a savings strategy for years to come?
  • What will help your whole family weather tough economic storms?
  • What about long-term thinking?
  • What about a more durable view of wealth?
  • What about the family thinking as a family unit?
  • What about creating financially responsible kids and adults?
  • What skillsets will grow?
  • What about creating a mission for your family that’s bigger than individual happiness?
  • What do you prefer?
  • How does one get started creating a family fund?
  • Who do you need at the table?
  • What is your greatest asset?
  • Would you like to hear Episode 294?
  • What about the big picture strategy?
  • What is the best design?
  • What is the unique solution for your specific needs?
  • Would you like to meet with Mark to discuss a family fund?
  • How soon does one see cash value?
  • How might one use cash value from whole life insurance policy loans?
  • What about an uninsurable life insurance policy owner?
  • Who is buying policies on family members?
  • Who is buying policies on their parents?
  • Who is buying policies on their kids?
  • Who is buying policies on business partners?
  • What about a parent matching program?
  • How might both generations contribute to a policy?
  • How many creative ways can you think up?
  • What about an example?
  • What about single premium immediate annuities?
  • Is it possible for annuities to pay insurance policy premium?
  • What about the Vanderbilts?
  • What about the Rothschilds?
  • What about leaving assets?
  • What about leaving assets and values?
  • Who is a part of the ever unfolding story?
  • Why does family wealth evaporate?
  • Does success leave clues?
  • Do you have control over your assets?
  • Who has control over your assets?
  • What about saving?
  • What is the different between lending and giving?
  • How might kids use family money wisely?
  • What skills do kids need to remember?
  • What about nurturing and training?
  • What about long-term thinking?
  • What about delayed gratification?
  • What about displaying family values?
  • What are the takeaways?