I help wealthy families prepare their kids for inheritance. I recommend this 3-step process to any parent.
A family office founder outlines a three-step process for preparing children for future inheritances, emphasizing character development and financial literacy. The plan suggests starting money lessons as early as age six to ensure heirs are responsible stewards of wealth.
Why it matters
It provides insight into wealth management strategies for high-net-worth families and the psychological preparation required for intergenerational wealth transfer.
Ken Polk founded a family office. Courtesy of Ken Polk The founder of a family office said preparing kids for receiving an inheritance can start as young as 6. His three-step plan builds up to the big inheritance "reveal" when the kid is around 20 years old. He used the process with his own kids, and it involved a three-jar money lesson. This as-told-to essay is based on a conversation with Ken Polk, 53, who is based in Birmingham, Alabama. He is the founder of Arlington Family Offices. This has been edited for length and clarity. I believe most families think about inheritance , but many don't really talk about it. Whether your children are due to receive $100,000 or $100 million, it doesn't really matter. The challenge is the same: if you know this meteor is coming into your children's universe, you need to prepare them for it.
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