No matter what role you play in owning and running your business—the entrepreneur, the CEO of an established business, or somewhere in between—you may often be so focused on building and growing the business that you’ve forgotten that your most important role is to protect what you’ve already built.
There are countless ways to launch the college planning process. Should you lead the way with in-person visits? What about conversations with admissions counselors? Do you gather the insights of alumni from a broad set of institutions? All these options are worthwhile, but a more foundational starting point for your high school-aged children is to investigate different areas of study that match his or her interests.
Uncomfortable conversations about wealth occur within families on a regular basis. If you struggle with how to talk to your own family about your wealth, you’re not alone. If there were ways to prepare one’s family for the inheritance without mentioning financials, the exact details of the estate plan, and you could begin when the heirs are younger, then more families would probably be willing to have these conversations.