This will be the last and final part on Heritage Planning. Last week we covered the first 6 of the 12 Elements of Preserving Family Wealth. I would invite you to go back and read the first 6 elements if you missed last week. Today I will cover elements 7-12.
Thinking long-term means more than setting goals. It means being conscious and mindful of your actions and their impending consequences. While I am thinking about this issue from a financial standpoint, there are many other parts of your life that are affected by short-term versus long-term thinking. Think about the successful outcomes of longevity in relationships, marriages, material objects, your home, etc. To successfully endure several facets of our lives, we must maintain and take care of those facets. Starting with a good foundation is the best way to do this.