Splitting Heirs: Giving Money & Things to Your Children Without Ruining Their Lives

by Ron Blue

Book Overview

The financial wealth you leave behind could be the best thing that ever happened to your loved ones--or the worst. By approaching these important topics with clarity, conviction, and a little bit of... This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 1881273059
• ISBN13: 9781881273059
• Release Date: March 2004
• Publisher: Northfield Press
• Length: 209 Pages
• Weight: 0.93 lbs.
• Dimensions: 0.8" x 6.2" x 9.3"

Customer Reviews

Very Informative

A must read for anyone desiring to be responsible in their estate planning. Should be in every library and church library (I donated a copy).

A "Big Picture" Christian Perspective on Wealth Transfer

Christian financial planning icon Ron Blue reveals the hidden weakness in most of the "estate planning" Christians (and non-Christians) end up pursuing: We focus too much on tax strategies and the mechanics of asset distribution at death, rather than focusing on how we can best deploy our assets to do the most good while we're living AND upon our deaths. Ron encourages a thoughtful, caring approach to estate planning (or "wealth transfer", as he rightfully prefers to call it), and dares to challenge some commonly held secular assumptions about the potential impact of wealth on our heirs. This is an eye-opening book. It helps me as a Christian lawyer, estate planning speaker and author (The Believer's Guide to Legal Issues) to better address the human and spiritual goals of my clients in the wealth transfer planning process.

Money advice

Interesting, informative, and thought provoking book which parents and or relatives should read, discuss, and think about before leaving money and property to their children in terms of long terms positive and negative effects of doing so.

Recommended but not without its problems

"Splitting Heirs" is an appropriate title for this book and the problems it deals with. So often people fail to plan for their eventual death and everything they have spent years accumulating ends up in the hands of the court system, lawyers, and others. Even when they do plan it often ends up in the hands of their children who may or may not be mature enough to handle the windfall. The parable of the prodigal son often comes to mind as children squander their inheritance. What can you do to make sure that your interests and your desires are foremost when it comes to passing on your inheritance? That is the subject of this book. How do you provide for children and grandchildren while still teaching them the value of money and the responsibility that comes with it? How do you deal with the expectations of in-laws, stepchildren, and grandchildren, provide for church and ministries, avoid family conflict and avoid sibling jealousy?Author Ron Blue delineates a clear process for dealing with these issues. The process is basically to first determine why you should want to transfer your wealth, then to whom you want to transfer it, how much you want to transfer, when you want to do it, what you want to transfer, how you can do it, and communicating all the above to the appropriate people. The advice is sound and he makes several good points that any financial planner would also advise you to do. The only real problem with the book is that parts of it appear to be inconsistent with each other. For example, on page 45 and again on page 154 under the heading of Tools and Techniques he notes the "Trust Principle" which he states is "Never use a trust because of a lack of trust". However, he never really defines what he means by that comment. If it is "never use a trust because you really can't trust the trustee to do what you want" then that is not consistent with his suggestions on pages 167 through 174 where he suggests the use of a marital trust, an insurance trust, and possibly charitable remainder trusts, charitable lead trusts, etc. On the other hand if he means that you should not use a trust as a vehicle to control a child's access to money because you don't trust the child then that is different but still not necessarily consistent with the basics of the rest of the book. If the child is not mature enough to handle money then having it in a trust with someone who can is responsible stewardship. Items like this make parts of the book questionable simply because the reader can't really tell what Mr. Blue is trying to say much less determine if it is sound advice. Another problem with the book is some of the people he holds out as examples. On page 50 he mentions Andrew Carnegie as an example of a person determined to give. While this is factual and he did give away most of his fortune and supported many charities, he amassed his fortune through ruthless business practices that can hardly be considered as respectful of others. To b

Best book I've read about true wealth

This book can be read in a night but contains wisdom for a lifetime. Expecting another book about estate planning, I was pleased to find only the essential data needed to introduce the subject and the bulk of the content about thoughtfully (and prayerfully) making the six decisions about wealth transfer. This is the first book I have read by Ron Blue but I suspect it is one of his best. Intertwined between the chapters teaching us about the six decisions of wealth transfer are sole searching questions, historical examples of heros in philanthropy, and humorous cartoons introducing each chapter. But the real treasures in this book are the biblical references with reminders of the definition of stewardship in nearly every chapter - "God owns it all"