Teaching your kids about wealth before they inherit it

You've worked hard to build your success through years of effort, smart decisions, and probably a few sleepless nights. Now, as you think about the future, one big question might be on your mind:

Will my kids be ready for what they’re going to inherit?

For many of the people we work with, this question comes with a mix of pride and concern. They want to give their children opportunities, but not entitlement. They want to pass on more than just assets: they want to pass on values, wisdom, and a sense of purpose.

We help families plan for this thoughtfully. Here’s how we approach teaching kids about wealth, before they receive it.

Start with clarity: What are you really hoping to pass on?

Every family is different. Some want to ensure their children can afford a home. Others want to fund education, support a charitable cause, or keep a vacation property in the family.

But for most, it’s not just about the money. It’s about what the money represents:

• Hard work
• Responsibility
• Gratitude
• Legacy
   

That’s why we encourage our clients to get clear on what they want the next generation to understand. Once you know what matters most to you, we can build a plan to help your family live it out.

Talk about it before you have to

One of the most common mistakes we see is waiting too long to talk about inheritance. Some parents don’t want to spoil their kids. Others assume their kids aren’t ready.

But silence doesn’t protect them. It leaves them unprepared. That’s why we help families begin age-appropriate conversations early and gradually.

Here’s how that can look over time:

Elementary and middle school

• Talk about spending, saving, and giving.
• Use real-life examples, like setting a budget for birthday gifts or family outings.
• Involve them in small financial decisions (“Here’s what you have to spend. Do you want one big toy, or a few smaller ones?”)
   

Teenagers

• Help them open their own chequing or savings account.
• Introduce the idea of compound interest, investing, and taxes.
• Encourage them to earn money and set goals for how to use it.
   

Young adults

• Share how your family thinks about giving, saving, and spending.
• Walk them through your estate plan (at a high level, at first).
• Invite them to attend your meetings with us, if you feel comfortable.
   

The key isn’t to dump everything on them at once. It’s to build knowledge, confidence, and character over time.

Create a framework for decision-making

We believe in teaching children not just what to do with wealth, but how to think about it. That’s why we often help families develop a shared set of principles to guide future decisions.

This can include:

• What kind of support you want to offer (education, housing, business opportunities).
• What conditions or expectations are tied to that support (e.g. completing school, participating in charitable work).
• What role philanthropy plays in your family’s life.
• How you want to handle big financial decisions – like selling property or investing family assets.
   

When a clear framework exists, it takes the pressure off individual choices. Everyone knows what the family stands for, and that builds trust across generations.

Use tools that build confidence, not dependency

Some families worry that too much support will take away motivation. We get it. It’s important that kids feel capable, not entitled.

That’s why we encourage tools that support independence while still offering guidance. For example:

• Living inheritances. Provide some support now (with a house down payment or business loan), so you can see how they handle it and offer mentorship along the way.
• Donor-Advised Funds (DAFs). These allow families to work together on charitable giving, letting younger generations learn how to make thoughtful, values-based decisions.
• Family meetings. Regular gatherings (formal or informal) where you talk about values, goals, and money – without judgment or pressure.
   

These tools help shift the mindset from “What am I getting?” to “How can I contribute?”

If something happens, will they know what to do?

One of the biggest fears we hear from clients is, “What happens if something goes wrong?”

That’s why part of our process is not just planning for our clients, but helping them plan with the people they love. We make sure:

• Everyone knows where the key documents are.
• Spouses and children understand the broad structure of the plan.
• There’s a trusted advisory team in place, ready to step in and guide them.
   

This gives families the confidence that even in difficult times, they won’t be left overwhelmed or alone.

Teaching values is the real inheritance

To us, wealth is more than just dollars in an account or numbers on a page. It’s values, relationships, and the wisdom to use money well.

When you bring your kids into the conversation early, you give them time to grow into their future role. And when you model gratitude, generosity, and intention, they’re more likely to carry those same values forward.

You’ve worked hard to create your success. Let’s work together to help your kids understand how to carry it forward – not just as an inheritance, but as a responsibility they’re ready for.