- April 23, 2020
- Posted by: Matt Wesley, Founder, The Wesley Group
- Category: Culture, Estate Planning, White Paper
Author: Matt Wesley
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Playing the Long Game: In the Beginning…
This is how it starts.
Bob and Mary Campbell are sitting in their lawyer’s office doing estate planning. Bob, through hard work, real skill, and some luck has accumulated a substantial fortune. He has lived a rich and full life and built a company that he sold for an astronomic sum. He now invests in other emerging companies and real estate. A de-facto family office helps manage his diverse interests. Bob and Mary are now trying to make decisions about how to leave this fortune to their children. Bob wants to be responsible about his decisions. He wants to avoid taxes. He doesn’t want to create “trust fund babies”. Mary has her own concerns – she wants the children to be happy and to get along. She doesn’t want the wealth to “ruin” her children or grandchildren. They both want to do good in the world, and they want their family to learn to give money away responsibly.