Preparing Your Family for the Wealth They Will Inherit

In this episode, we delve into the essential steps families can take to prepare the next generation to inherit and manage wealth responsibly. From initiating conversations about money to fostering financial literacy and aligning values, we explore strategies to equip future generations with the tools and mindset needed to steward family resources effectively.Our guests, Joan DiFuria and Emily Bouchard, are leaders in wealth psychology and family dynamics. Joan is the Co-Founder of the Money, Meaning & Choices Institute, specializing in helping families navigate the emotional and relational aspects of wealth. Emily, Executive Director at Blended Families Flourishing, brings decades of experience in coaching families through the complexities of wealth transitions and legacy planning. Together, they provide actionable insights for families at every stage of wealth preparation.In this episode, you will learn:(03:57) Engaging Young Children(09:07) Guiding Teenagers(14:02) Empowering Young Adults (21:17) Supporting the Rising GenerationWant to continue the conversation?More on Northern Trust’s Secrets of Enterprising FamiliesMore on Joan DiFuriaMore on Emily Bouchard Reach out to your Northern Trust advisor Remember to subscribe to Secrets of Enterprising Families to stay connected as we dive deeper into the strategies that empower families to manage wealth across generations. Don’t miss our next episode, where we’ll explore wealth planning for business owners.