Preparing Heirs

Roy Williams and Vic Preisser

$18.00 ($29.95 retail)

This is not simply another book about estate planning. Transferring "maximum wealth" does not guarantee wealth (or family harmony) in the next generation. In fact, research has established that 2/3 of wealth transitions fail during the Post-Transition Estate Planning® period. Clearly, important elements are missing from the current approach to estate planning.

In search of those missing elements, we interviewed 3,250 families that had previously transitioned their wealth. We repeatedly heard three concerns from family leaders:

"Will our current plan successfully transition family values and wealth?"

"How can we prepare heirs so that wealth is a force for good in their lives -- not a burden?"

"What should our heirs be doing to prepare themselves for wealth and responsibility?"

The missing element in all was the proper preparation of heirs. The handoff of responsibilities for the family wealth could not be sidestepped, and heirs easily succumbed to the weight of expectations without adequate preparation. Yet internal family issues of trust, communication and planning continued to impede the preparation of heirs. This surprising conclusion emerged:

The origins of the 2/3 failure rate in estate transitions lie within the family itself.

This book provides "checklists" for your family to evaluate transition readiness (Chapter 5) and heir self-preparation (Chapter 8), in selecting a family coach (Chapter 6), etc.

"I think this book is a jewel."
-Pete Coors, Chairman, Coors Brewing Company

"A very helpful tool for many people who are facing decisions of this type."
-Rosemary B. Hewlett

"Destined to become a classic."
-Jack Canfield, Co-Author, Chicken Soup for the Teenage Soul on Tough Stuff® and The Power of Focus

"I found ideas in this book that had never been addressed before."
-Ambassador Glen A. Holden (R)

"A valuable and extremely practical guide to do family wealth transfer and management."
-James P. Miscoll, Vice Chairman (Retired), Bank of America

"Should prove very helpful to those families embarking on the journey of wealth management."
-Sarah Ludwick, Owner, Rainbird International