Over the years, we’ve seen countless court battles where children fight over the property left behind by their parents.
More often than not, they fail to agree or share the inheritance equitably.
Could this be because their parents didn’t instil the right values in them, leading to extreme selfishness? Many of these children were born with silver spoons in their mouths no struggle, no hustle.
But have you ever stopped to think about what will happen to your children after you’re gone? Imagine them clashing over your hardearned wealth, your bank savings, your vast estates.
The idea that your own children might tear each other apart over an inheritance they never worked for is unsettling. What are you doing today to ensure that doesn’t happen? From an early stage, it is essential to parent your children with purpose.
They shouldn’t always receive everything on a silver platter. Teach them that wealth is earned through hard work, resilience and discipline. It’s not about what you do for your children that makes them successful; it’s about what you teach them.
Help them understand that money doesn’t grow on trees and that self-reliance comes with effort. When they learn to work for what they have, they’ll develop the values of sacrifice, patience and gratitude.
Be the kind of role model your children can look up to. Earn your wealth honestly because children learn more from what you are than from what you say. Sadly, many people today take shortcuts to accumulate wealth, believing this will secure their children’s future.
Yet, wealth gained dishonestly often turns into a curse rather than a blessing, fuelling family conflicts and even tragedies. If you want your children to grow into responsible, ethical individuals, it starts with you.
Teach your children that family is a lifelong gift. Long after you are gone, they should stand together. Let them understand that while blood makes them related, loyalty makes them family.
Encourage kindness, mutual respect and fairness from an early age. Foster a spirit of sharing and unity in your home. Never create divisions among your children, instead, treat them equally.
Equal treatment reassures them that they all matter and deserve the same opportunities.
And yes, write a will. In many African families, discussing wills feels uncomfortable, but having one in place can prevent unnecessary pain and conflict.
Inheritance battles are most common in wealthy families, especially in cases involving men with multiple spouses and children both known and unknown.
Sadly, not all trustees are honest, and without a clear plan, your children may end up suffering.
Spouses should trust each other and consider naming each other as executors of their wills.
Make your dependents known to prevent confusion and disputes.
Nobody wants funerals to turn into battlegrounds over wealth. It’s also important to involve your children in financial planning once they reach the right age.
Educate them on budgeting, saving and investing so they can manage wealth responsibly. Transparency about family assets and financial goals fosters accountability and reduces the chances of disputes.
Hold open discussions about wealth management and inheritance to ensure everyone is on the same page. Education goes beyond academics.
Expose your children to experiences that cultivate resilience, empathy and leadership. Encourage them to take part in programmes that teach financial literacy and entrepreneurship.
These skills will empower them to manage and grow their inheritance wisely, while also appreciating the value of hard work.
Above all, teach your children the power of unity.
Families achieve more when they work together rather than against each other. Celebrate milestones as a family and nurture strong bonds. Reinforce the idea that their relationship is worth more than material wealth.
Lastly, emphasise gratitude and philanthropy. Teach your children that wealth isn’t just a privilege it’s a responsibility.
Encourage them to give back to the community and help those in need. Instilling humility and a sense of purpose will ensure that wealth becomes a tool for positive change rather than a source of division.
Consider setting aside a portion of
your wealth for charitable causes. This not only leaves a
legacy of goodwill but also serves as a powerful lesson
for your children.