There is no arguing Warren Buffett's wisdom, particularly in matters of money. So, instead of my thoughts, today I give you perspectives from the Sage of Omaha, who this week articulated his perspectives as they relate to handling your final affairs.
I hope you had a blessed Thanksgiving with family and friends.
"I have one further suggestion for all parents, whether they are of modest or staggering wealth. When your children are mature, have them read your will before you sign it. Be sure each child understands both the logic for your decisions and the responsibilities they will encounter upon your death. If any have questions or suggestions, listen carefully and adopt those found sensible. You don’t want your children asking “Why?” in respect to testamentary decisions when you are no longer able to respond. Over the years, I have had questions or commentary from all three of my children and have often adopted their suggestions. There is nothing wrong with my having to defend my thoughts. My dad did the same with me. I change my will every couple of years – often only in very minor ways – and keep things simple. Over the years, Charlie and I saw many families driven apart after the posthumous dictates of the will left beneficiaries confused and sometimes angry. Jealousies, along with actual or imagined slights during childhood, became magnified, particularly when sons were favored over daughters, either in monetary ways or by positions of importance. Charlie and I also witnessed a few cases where a wealthy parent’s will that was fully discussed before death helped the family become closer. What could be more satisfying?"
<br/><span class="body-2 opacity-80">~ Warren Buffett</span>
"Only put off until tomorrow what you are willing to die having left undone."
<br/><span class="body-2 opacity-80" style="padding-top:0.75rem">~ Pablo Picasso</span>
"Jealousy lives upon doubts. It becomes madness or ceases entirely as soon as we pass from doubt to certainty."
<br/><span class="body-2 opacity-80">~ Francois de La Rochefoucauld</span>
"By failing to prepare, you are preparing to fail."
<br/><span class="body-2 opacity-80">~ Benjamin Franklin</span>
