Willing Wisdom; 7 Questions Successful Families Ask

Willing Wisdom

 Seven Questions Successful Families Ask

By Thomas William Deans Ph.D.

A Book Review

Recently Lise received a copy of the book  “Willing Wisdom” by Mr. Thomas William Deans- a public speaker to the wealthy and their professional advisors. Having just completed her own book on inheritance she was curious to see what Deans had to say on the subject of preparing heirs for an inheritance. In writing “Willing Wisdom” Mr. Deans' wanted to help readers improve family relationships through communication and help children to become better stewards of wealth. This book will be of interest to readers who have not updated their wills for several years, for families of young children and for those who have not communicated to their executors their wishes or where to locate the will.

“Willing Wisdom” is written in a folksy style with less than 150 pages. Deans makes a good case for the importance of having an up to date will. Did you know less than 50% of the American population has a current will at the time of their death?  Even for those of us in the financial planning profession, this is a shocking statistic. Dying intestate (without a will) can, and does, cause numerous problems. These problems include delays in transferring wealth and additional costs from not taking advantage of tax savings provided to those who plan their affairs better. During his years as a speaker Deans was shocked to discover how few people have talked to their families about their wealth and their plans for distributing that wealth during their lifetime and after their death. “Willing Wisdom” is his response to those who have not had the inheritance talk with their families.

With various areas of focus, the book is essentially divided into two parts. The first part of the book explores Deans own family’ story of how they were able to successfully pass on the family wealth to the next generation through early and ongoing communication. Contrasting Deans success story, the book also highlights the stories of other’s whose estate plans were not so successful. The second part of the book focuses on what Deans has called the 7 questions. These 7 questions outline the most important things to ask yourself, and your family, in preparation for dealing with all things in a will.

Personally, most interesting to read are the 7 questions; after all, we all want to enjoy the benefits of successful wealth transfer. Here are the questions; I will leave it to you to read the book to discover the answers. Hopefully the questions themselves will spark your interest in beginning a meaningful conversation with your loved ones.

1. What word best describes our family?  Share a family story that helps to      explain the word you selected

2. Describe how your parents acquired their wealth. Share a memory about something your parents did to provide for you that left a lasting impression

3. How would an inheritance advance your dreams for yourself, your family, and your community?

4. In the context of planning for the division of your assets, does fair mean fair or does it mean equal?  Who are you planning to leave your wealth to and will you share a copy of your will with  me?

5. Describe how your parents divided their assets and when you first learned of the contents of their will?  What would you do the same and what would you do differently?

6. Describe the role you play or played in the final care of your parents.  Can you name one thing that was or is being done well, and one thing you could change or wish you had done differently?

7. Describe in detail your last wishes.

If you have any questions regarding your will, or the will of a loved one- please contact the office at 
info@c2inc.com.

To order a copy of Deans book Willing Wisdom; Seven Quesions Successful Families Ask: Click Here