This past week, I sat down with a long-time client to discuss Lifestyle & Legacy Capital—one of the central themes from my book and a core component of the WISE™ framework.
As we talked, the conversation kept circling back to one fundamental question:
What do you truly want for your children?
For this family, independent wealth was already secured. Their focus had shifted to making thoughtful, intentional decisions about how much to leave for their children, and how much to allocate toward charitable impact. What gave them clarity wasn’t a technical solution—it was hearing the stories of how other business owners approached the same challenge.
The Wide Spectrum of Legacy Decisions
Over the years, I’ve seen just about every possible approach to inheritance planning. On one end of the spectrum, some business owners say:
“I want the last check to bounce.”
On the other end, others want their children to inherit everything they’ve built—completely protected from liabilities and estate taxes.
Most people fall somewhere in between.
But the most memorable story I’ve heard came from a business owner who had a very intentional plan for his three children.
A Story of Intention
When we first discussed his goals, he told me directly:
“I want each of my three children to receive $120,000 annually, inflation-adjusted, for the rest of their lives. The rest of my estate will go to charity.”
Naturally, I asked him why.
His response:
“$120,000 is enough for them to live a secure life, but not so much that they can ruin themselves or get too comfortable. I’ve given them education, support, and resources to grow their own wealth. They’re empowered to take it further.”
His plan included:
- Trusts to provide that income.
- Additional funds earmarked for education and healthcare.
- The remainder directed into a charitable foundation, where his children would also have future input.
After 20 years of working with business owners on Lifestyle & Legacy planning, I still consider this one of the most intentional—and beautifully simple—plans I’ve seen.
But here’s the key: it didn’t happen overnight. It took years of thought, reflection, and conversation to arrive at that clarity.
Why Intentionality Matters
Inheritance planning is one of the most emotionally charged decisions a business owner will ever make. Because it’s so complex, many default to the standard template:
“Everything to my spouse, then split equally between the kids.”
It feels simple. Safe. But the truth is—one size does not fit all.
Your children are unique. Your values are unique. And your plan should reflect that.
A Question for You
So let me ask you:
What do you want for your children?
Not what the estate documents say by default. Not what others think you should do. What do you want—intentionally?
Need a little more clarity? THIS VIDEO will help define what is for you, and what is for your children.
The First Step
From my experience, these decisions can take years to fully shape—and they will likely evolve over time. That’s why the most important thing you can do today is simply to start the conversation.
Ask your spouse or partner this question:
“What do we want for our children?”
Don’t aim for perfect answers right away. Just begin the dialogue. The sooner you do, the clearer and more meaningful your legacy plan will become.
