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Most families think a trust equals legacy.
But if you’ve seen what I’ve seen, you know better.
One-third of heirs burn through their inheritance in under two years. Most of the rest? Gone within a decade.
That’s the hard truth behind poor legacy planning for families—it fails not because the documents are wrong, but because the leadership is missing.
Estate planning is paperwork.
Legacy planning for families is purpose work.
And right now, far too many are trying to outsource what only leadership can build.
Why Most Families Get Legacy Planning Wrong
This isn’t just a middle-class issue.
Ultra-wealthy families experience the same heartbreak. They build fortunes, then lose them to unprepared heirs.
They see the cliff coming—and instead of preparing the next generation, they sidestep the responsibility entirely:
- “Die with zero.”
- “Give it all away.”
- “Let someone else manage it.”
It sounds generous. But really? It’s abdication.
Because they never built a plan to lead their family forward.
Legacy planning for families can’t stop with a lawyer and a signature. It has to start at the kitchen table.
Trusts Don’t Build Stewards
Here’s what most estate plans miss:
- Trusts don’t teach vision.
- Legal documents don’t transfer wisdom.
- Inheritance doesn’t create identity.
And here’s the cost:
Your kids inherit assets, but not the ability to think like value creators.
They inherit structures, but not the why behind them.
They inherit money, but not the leadership to carry it.
Legacy planning for families isn’t about how much you leave. It’s about who you become—and who you build.
If you don’t train stewards, you’re just handing off gasoline to someone who’s never driven a car.
Raising Stewards: The Forgotten Job of Legacy
Here’s the uncomfortable truth:
Raising stewards is harder than writing checks.
And legacy leadership at home? That’s the most demanding—and most important—role you’ll ever hold.
This Mother’s Day reminded me of that truth.
I’m grateful for a mother who modeled purposeful parenting.
Grateful for a wife who leads beside me—homeschooling through the chaos, teaching our kids to think deeply, act boldly, and live with integrity.
She’s not raising heirs.
She’s raising leaders.
She’s practicing real legacy planning for families—every day.
Because in the Maxwell family, legacy isn’t something we outsource. It’s something we live.
The Difference Between Heirs and Stewards
An heir waits for what’s theirs.
A steward grows what they’ve been given.
Legacy planning for families must include training the next generation to think like investors, owners, and creators—not just recipients.
That requires:
- Regular family conversations about values, money, and meaning
- Systems for passing on wisdom, not just wealth
- Opportunities for kids to take ownership—early and often
If you’re not shaping that today, you’re leaving your legacy to chance tomorrow.
How We Approach Legacy in the Maxwell Family
We didn’t stop with estate documents.
We built a family constitution—a set of values, rituals, and rites of passage that guide how our family thinks, acts, and builds.
From our family banking system to our traditions around adventure, service, and spirituality—we’ve designed a model for legacy planning for families that does more than preserve wealth.
It multiplies wisdom.
It develops leaders.
It creates alignment across generations.
Because your family doesn’t need more cash. They need a culture.
Stop Outsourcing Legacy. Start Architecting It.
If you’re a business owner with a successful company and a growing family, you need to hear this:
Legacy isn’t what you leave—it’s what you live.
You can’t delegate it to schools.
You can’t pay a lawyer to deliver it.
You can’t expect money to carry your message.
Legacy planning for families starts with courageous leadership.
If you don’t have that, it doesn’t matter how airtight your legal structure is.
If you do? The documents will just become amplifiers of your values.
So What’s Next?
If you’re ready to go beyond trusts and build a living legacy—here’s where to start:
- Audit Your Current Plan
- Does it train stewards or just transfer money?
- Document Your Values
- What principles do you want passed on?
- Create a Family Leadership Framework
- Include rituals, education, and accountability
- Build Systems for Stewardship
- Teach your kids how to create, manage, and multiply value
This is what real legacy planning for families looks like.
It’s not easy. But it’s worth it.
Because the real legacy isn’t what you leave—it’s what you build into the people you love most.