{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"061: Keys to a Successful Transfer of Wealth","description":"Unfortunately, many today see money as a solution to problems, but that is not always the case. In fact, wealth can be quite damaging to a family dynamic. Planning, in this instance, is vital. When family members have prepared and have learned how to work together, that\u2019s when wealth and inheritance can be used as a tool to benefit a family for generations to come. In this Absolute Trust Talk episode, Kirsten sits down with Richard Del Monte of the Del Monte Group to discuss the underlying reasons why wealth transitions so often fail. They also look at the tools and processes he recommends for families who want to avoid that fate. With more than 35 years of experience as a Certified Financial Planner and Certified Wealth Consultant, Richard excels in guiding clients through challenging life transitions and finding ways to make seemingly out-of-reach financial goals become a reality. This is an episode not to be missed. Big Three from Episode #061: Teach your heirs ahead of time how to handle wealth successfully. Communication and conflict management is KEY to building a solid family foundation, especially for when the older generations are no longer around. Have the family find a shared purpose for using their wealth as a tool. Time-stamped Show Notes: 5:57 \u2013 How often do these wealth transfers fail? 6:41 \u2013 What do these failures look like? 8:19 \u2013 Richard shares eye-opening statistics about what causes wealth loss from generation to generation. 9:32 \u2013 When do families get in touch with Richard? How does he get involved? 12:37 \u2013 What does Richard\u2019s process look like when working with clients? 13:22 \u2013 What happens when we think we\u2019re right. 16:00 \u2013 Richard shares so examples of unprepared heirs and how to change that situation. 22:02 \u2013 Kirsten and Richard share a couple of his tools for getting a family to work as one. 27:09 \u2013 What do parents need to do to help their children grow up with a work ethic? 29:43 \u2013 This is Richard\u2019s process to encourage someone to attend a meeting if they don\u2019t want to. 30:50 \u2013 What is the first step in implementing these types of techniques with full-grown siblings? FREE BOOK OFFER: Did you know that when wealth is transferred from one generation to the next, 70% of the time, that generation loses the wealth by the end of their lifetime? That\u2019s HUGE. How does that happen? Unprepared heirs and lack of family connection and communication. Wealth can damage relationships and cause rifts within a family that have devastating consequences for all. To help you dive deeper into this topic and build a better plan for the future, Absolute Trust Talk guest, Richard Del Monte, is offering a FREE copy of his book \u201cEndless Inheritance.\u201d This book will help you avoid discord, conflict and create fulfillment and harmony, ensuring your wealth will live on. To order your free book, you can call the Absolute Trust Counsel office at 949.943.2740 or email us at Info@AbsoluteTrustCounsel.com. [Ad] Estate planning is vital to ensure that you and your family are protected and prepared throughout your later years of life and beyond. Please don\u2019t wait until it\u2019s too late. Schedule a free discovery call today, and we\u2019ll review your case to make sure all your needs are met. Take the Next Step in Your Estate Planning Journey If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll: Learn about your unique situation and goals Answer questions about our services Determine if we're the right fit to work together  Visit https:\/\/absolutetrustcounsel.com\/scheduling\/ or call 925-943-2740 to schedule your free discovery call today. Follow and Review: We\u2019d love for you to follow us if you haven\u2019t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We\u2019d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select \u201cRatings and Reviews\u201d and \u201cWrite a Review\u201d then a quick line with your favorite part of the episode. It only takes a couple second and it helps spread the word about the podcast. Episode Credits: The Absolute Trust Talk podcast is brought to you with the help of Q2Mark, led by Chief Marketing Officer Susie Hays. Since 2016, Q2Mark has partnered with Absolute Trust Counsel on all marketing communications\u2014from brand development and website design to this podcast series with over 192 episodes, social media management, video production, and more. If you're business owner looking for comprehensive marketing support, visit Q2Mark.com. ","author_name":"Absolute Trust Talk","author_url":"https:\/\/absolutetrustcounsel.com\/podcast","html":"