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.
I recommend a process that begins in childhood and evolves as your kids grow up. I’ve personally gone through it with my four children, who are now 27…
