Item description for Splitting Heirs: Giving Money & Things to Your Children Without Ruining Their Lives by Ron Blue & Jeremy White...
Overview Finish well. That is what we are called to do in Scripture, but where will our money and possession finish? The Bible has the principles that provide answers to the challenge of parenting and passing along an inheritance. Within the next decade, over ONE TRILLION DOLLARS will change hands from one generation to the next. Individuals with adult children will need to transfer that wealth without ruining their heirs' lives. Ron Blue, an authority on personal and business finance, will help: identify exactly how much money would be transferred were the reader to die today; identify the need for creating a will; identify tax-wise financial planning; teach the way to leave money without creating an unhealthy dependence.
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Studio: Northfield Publishing
Est. Packaging Dimensions: Length: 9.1" Width: 5.9" Height: 1" Weight: 1.06 lbs.
Release Date Mar 31, 2004
Publisher MOODY PRESS BOOKS #13
ISBN 1881273059 ISBN13 9781881273059
Availability 0 units.
More About Ron Blue & Jeremy White
After spending his early career on Wall Street and as an entrepreneur, Ron Blue became a Christian in his early 30s. Since 1979, he has held a God given passion to help Christians plan and manage their finances in order to be able to maximize Kingdom giving. Over time, Ron has pursued this passion in several ways. He is the founder of Ronald Blue & Co., the largest fee-only Christian financial planning firm in the country. He has authored twenty books on biblical financial stewardship, including Master Your Money, The Complete Guide to Faith Based Family Finances, and Surviving Financial Meltdown. In 2003, he helped to establish Kingdom Advisors, a ministry that trains financial advisors to integrate biblical wisdom into their client advice. In 2012, Ron partnered with Indiana Wesleyan University to establish The Ron Blue Institute for Financial Planning, dedicated to multiplying the message of biblical financial wisdom in the public and academic sectors through curriculum development and thought leadership.
Ron holds a BS and an MBA from Indiana University. He and his wife Judy live in Atlanta, Georgia. They have five children and thirteen grandchildren.
Karen Guess is an educator and writer. She graduated with a B.A. in History from Wake Forest University and spent the next twelve years teaching middle and high school in Japan, inner city Richmond, and suburban Atlanta. For the last eight years, she has worked closely with her father, Ron Blue, both editing and creating content for Kingdom Advisors and The Ron Blue Institute. This is their first book together. Karen and her husband have three children and reside in Clarkston, Georgia, a city that is home to several thousand refugees from all over the world. They are passionate about neighboring in their community and sharing its beauty with others.
Reviews - What do customers think about Splitting Heirs: Giving Money & Things to Your Children Without Ruining Their Lives?
Money advice Nov 12, 2007
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.
A seasoned financial planner talks with a religious bias about the tedious process of determining the beneficiaries of your will Sep 26, 2007
This book was OK. I didn't particularly like it, but I didn't dislike it either. It certainly could have been a little more straightforword in the early chapters with regard to what it was actually about. What this book is about is how a religious Christian can evaluate her options when considering to whom or what to leave her wealth upon her death. This book is about choosing beneficiaries to your estate - not about how to minimize estate taxes that will be due if you leave your wealth to something other than a church or other tax-exempt entity.
The author apparently likes to write about things that are on his mind. He describes in the book how at different periods in his life he wrote certain books that seemed to coincide with what he was doing professionally at the time. In 2004 when this book was published the author was in his 60s and he was in the process of changing his will. Clearly he had a lot on his mind because the instant book resulted at 200+ pages.
I think the instant book could have been really good if the author had kept his Christian values out of the mix. It can be a very challenging process to figure who to name as beneficiaries of your estate and how much to leave each beneficiary. And good coverage of such a topic could easily go far beyond 200+ pages and be well worth the read. However, this book comes across as preachy and relies on Scripture too much for support of the author's point of view.
The author seemed to be pushing the concept of leaving one's wealth to the church instead of to one's kids. He makes a lot of arguments why you shouldn't be leaving your wealth to your kids. Unfortunately, all the arguments fall flat because the reader can see (or should be able to see) the author's agenda: give to God.
People typically leave their wealth to those they love or causes they cherish, OR BOTH. Of course, any sane person does not want to waste their wealth unncessarily. And if the kids don't need it, then the church can greatly benefit from those funds. And if the kids will squander their inheritance, then the church or some other worthy charity can greatly benefit from those funds. But to promote giving your estate to the church to the exclusion of your kids to me is ludicrous. 3 stars!
Want a quick summary of this book? Here ya go ... Aug 24, 2004
Leaving money to kids is stupid. It will make them lazy and profligate. Instead, leave your money to charities. Like the ones run by the people who write glowing endorsements of this book. Whatever you do, don't leave money to any wicked organizations that promote abortion or free thought.
There. I've just saved you a couple of hours' reading time and a lot of aggravation. You're welcome. LOL
Recommended but not without its problems May 3, 2004
"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 be fair to Mr. Carnegie most of his practices were not inconsistent with others of his day and it is unfair to compare his work ethics with those of a more worker sensitive environment of today. I'm sure that Mr. Blue would not want people to draw the conclusion that it is okay to abuse others if the resulting income is given away to charities. There are just better examples, some of which he does include (such as S. Truett Cathy).
Along a similar vein, it would have been better if the quotes used on the inside and dust cover were not from people who stood to benefit from increased contributions to charities and churches (a position highly promoted throughout the book). Of the 13 people quoted only three of them are not directly connected with an organization that would benefit directly if more people contributed to charitable organizations or churches in their wills. This does not make the advice any less sound; it just establishes a credibility gap. The people quoted are all from Christian organizations and so one would hope that they can rely on an honest assessment of the book, but it still raises questions of independence. The book is good enough that there should be ample positive reviews from people who are not officers or founders of charities or churches.
Although I obviously have some problems with this book, taken as a whole it is one of the best basic guides to Christian oriented planning and wealth transfer. The advice includes all the basic guidance you would receive from most competent financial planners - give it to your heirs while you are alive, use marital trusts if appropriate, use life insurance trusts, plan to use your wealth in ways that are consistent with your beliefs and goals in life. He also does a good job of pointing out that the tools and techniques should be near the end of the process instead of at the beginning of the planning process. It just makes more sense to first determine your goals and then to use the tools and techniques that get you there. While I believe it could be better with better writing and more carefully chosen examples, the basic tenets of the book are financially solid and Biblically sound. "Splitting Heirs" is one of the best books available to understand the problems of wealth transfer from a Christian perspective.
Best book I've read about true wealth Apr 16, 2004
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"