I often speak of our legacy, creating one and passing it on. Today’s clients want to know that the wealth they leave their children is wisely used to benefit their heirs and not something that ruins their incentive to work or achieve. Wealth should be an opportunity. It should not serve to cripple and stifle initiative, creativity, and productivity. The tabloids often follow those of inherited wealth leading meaningless and sometime destructive lifestyles. Ensuring that their heirs have more meaningful values is of critical importance to clients who realize that giving their children substantial wealth may not truly benefit them in the long run.
One can only wonder whether the inherited legacy of wealth had unanticipated consequences for Casey Johnson, age 30, whose death was reported yesterday.
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