Inside our wealth system...

As a child into wealthy parents, we have a folder that our daughter will only ever open there if there is an emergency. Before we get into this, I want to make clear that before we had our daughter, we sat down together and we had a conversation about who we would want to raise our kids in the event that something happened. We asked them if they would be open to it and they agreed. Let's get into the list. The first thing on our list is that all medical records and birth records are put into a folder that anyone can open if they need to. Second thing on the list is certificates, ID & Passports, digital copies of IDs, passports, etc. on life. Third thing on the list is life insurance policy documents and health insurance policies. And then the last one is the big one. And this is all about our money and accounts, how our bank accounts are, how much money is inside of them, who we owe money to and who owes money to us. Everything is audited in a spreadsheet and on a website which is kept up to date every week. It's really important for us that we aren't just planning to give our child generational wealth, but we give them a system that is organized, everything is put together on purpose intentionally. It's morbid, but you don't want to spend a lifetime building up wealth and building up all of these lessons for your children only for it to be lost to something what to happen to you. Family, make sure you're having it possible as soon as possible.