The Wealth Integration System for Entrepreneurs™

Creating a Plan for Your Children

This past week, I sat down with a long-time client to discuss Lifestyle & Legacy Capital—one of the central themes from my book and a core component of the WISE™ framework.

As we talked, the conversation kept circling back to one fundamental question:

What do you truly want for your children?

For this family, independent wealth was already secured. Their focus had shifted to making thoughtful, intentional decisions about how much to leave for their children, and how much to allocate toward charitable impact. What gave them clarity wasn’t a technical solution—it was hearing the stories of how other business owners approached the same challenge.

The Wide Spectrum of Legacy Decisions

Over the years, I’ve seen just about every possible approach to inheritance planning. On one end of the spectrum, some business owners say:

“I want the last check to bounce.”

On the other end, others want their children to inherit everything they’ve built—completely protected from liabilities and estate taxes.

Most people fall somewhere in between.

But the most memorable story I’ve heard came from a business owner who had a very intentional plan for his three children.

A Story of Intention

When we first discussed his goals, he told me directly:

“I want each of my three children to receive $120,000 annually, inflation-adjusted, for the rest of their lives. The rest of my estate will go to charity.”

Naturally, I asked him why.

His response:

“$120,000 is enough for them to live a secure life, but not so much that they can ruin themselves or get too comfortable. I’ve given them education, support, and resources to grow their own wealth. They’re empowered to take it further.”

His plan included:

• Trusts to provide that income.
• Additional funds earmarked for education and healthcare.
• The remainder directed into a charitable foundation, where his children would also have future input.
  

After 20 years of working with business owners on Lifestyle & Legacy planning, I still consider this one of the most intentional—and beautifully simple—plans I’ve seen.

But here’s the key: it didn’t happen overnight. It took years of thought, reflection, and conversation to arrive at that clarity.

Why Intentionality Matters

Inheritance planning is one of the most emotionally charged decisions a business owner will ever make. Because it’s so complex, many default to the standard template:

“Everything to my spouse, then split equally between the kids.”

It feels simple. Safe. But the truth is—one size does not fit all.

Your children are unique. Your values are unique. And your plan should reflect that.

A Question for You

So let me ask you:

What do you want for your children?

Not what the estate documents say by default. Not what others think you should do. What do you want—intentionally?

Need a little more clarity? THIS VIDEO will help define what is for you, and what is for your children.

The First Step

From my experience, these decisions can take years to fully shape—and they will likely evolve over time. That’s why the most important thing you can do today is simply to start the conversation.

Ask your spouse or partner this question:

“What do we want for our children?”

Don’t aim for perfect answers right away. Just begin the dialogue. The sooner you do, the clearer and more meaningful your legacy plan will become.

SUCCESSion: Why Progress Starts When You Tell the Truth

Succession planning is one of the most critical — and most overlooked — challenges for entrepreneurs. Earlier this year, YPO invited me to deliver a keynote at their national manufacturing conference, where the topic was just that: succession planning.

As I prepared for the talk, one word in succession immediately stood out: SUCCESS.

Because at its core, succession is not simply about transition — it’s about defining what success means for you and your business.

The Hidden Roadblock: Lack of Clarity

For many business owners, the challenge isn’t creating a succession plan. It’s deciding what they actually want.

Some aren’t clear themselves. Others are clear, but haven’t communicated their intentions with their team or family.

The cost of this silence is steep:

• Slowed progress. Lack of clarity stalls momentum.
• Disengaged teams. When people can’t see the bigger picture, they lose motivation.
• Conflicting goals. Without a defined direction, efforts splinter, and unnecessary work piles up.
  

And perhaps most importantly: if you never say what you want, how will you ever get it?

The Power of Clarity

Clarity is the fuel for confidence and acceleration. It unlocks alignment, energy, and focus. But clarity requires two steps:

1. Decide what you want.
2. Be honest in communicating it.

That honesty — with yourself, your team, and your family — is where real progress begins.

If you’re unsure, THIS VIDEO will provide clarity.

A Lesson from George Lucas

Take George Lucas. After decades of leading Lucasfilm and building the Star Wars empire, Lucas made the decision to sell the company to Disney.

Why? Because he got clear on what mattered most: spending time with his family and launching his passion project, the Lucas Museum of Narrative Art.

He didn’t want his children burdened with the responsibility of managing the Star Wars franchise. By selling, he secured both continuity of his legacy and financial independence for his family.

It was a tough decision, but it aligned perfectly with his personal vision. Lucas told the truth — first to himself, and then to others. That honesty shaped his legacy.

The Question Every Business Owner Must Ask

What is the end goal for your company?

• Do you want to lead it to a specific milestone?
• Do you want to build a leadership team to take the reins?
• Do you want to pass it to your children?
• Do you want to sell?
  

There’s no right or wrong answer. Only the necessity of being honest about what success looks like for you.

The First Step: Communicate

Once you’re clear, communicate your end goal. Start with the key stakeholders — your leadership team, your family, your advisors.

Progress doesn’t start with a perfect plan. It starts when you tell the truth. From there, everyone can move in a shared direction.

Redirecting Your Energy: What Happens After You Step Back

After years - sometimes decades - of pouring your energy into a business, it’s easy to assume that more free time would be a welcome reward. And often, it is…at first.

But many business owners are surprised by what happens next.

Whether you've sold the company or hired a strong leadership team that gives you back hours in your day, a strange challenge emerges: What now?

When your identity has been so closely tied to your business, stepping back can feel less like freedom and more like disorientation. Suddenly, the rhythm of constant problem-solving and decision-making is gone. There’s space. And in that space, a question lingers: Where should my energy go now?

Many business owners fill the gap the only way they know how—by getting back into business. They re-engage with the company they stepped away from or start a new one altogether. Not always out of passion, but out of discomfort with stillness. The drive to be productive remains strong, but without clear direction, it often defaults back to familiar territory.

The truth is, you don’t just need more time. You need a new vine.

One with intention. One with meaning.

There’s a Japanese concept that speaks directly to this moment: ikigai, which means “a reason for being.” It sits at the intersection of four things:

• What you love
  
• What you’re good at
  
• What the world needs
•  What you can be paid for  

For most of your career, you did what you had to do. Now, you have the chance to ask what you want to do—and not just in business. This includes passions, hobbies, learning, creativity, relationships, and causes you care about.

The challenge? Most owners haven’t taken the time to truly answer that question. The success came from relentless focus and discipline. Now, it’s time for curiosity and exploration.

So—do you know what you want?

If you were to intentionally apply your energy somewhere else, where would it go?

We've created a tool to help.

The WISE Wheel™ is a tool specifically designed to help you clearly see the different areas in your life and determine where to focus your energy and efforts. 

Here are some ideas to spark your thinking:

• Expand a unique part of your business that energizes you
  
• Write the book that’s been on your mind
  
• Take up a new sport or physical challenge
  
• Learn a language, an instrument, or a craft
  
• Deepen your health journey
  
• Be more present—with family, friends, yourself
  
• Serve a cause, mentor others, or travel for meaning
  

You don’t need a perfect answer. Just a willingness to explore.

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