*I had a conversation with a friend the other day when the subject turned to family inheritance and wealth creation.
This friend, we’ll call him Bobby, owns two houses in the Dallas-Fort Worth area worth close to two million dollars together. And he owns about five acres of land in a nearby county.
One of the best ways to create and pass on wealth is through homeownership and real estate equity. But Bobby told me he plans to sell the most valuable property and keep the money for himself instead of willing it to his children. When I asked him why he told me it’s because his children want something for nothing.
Bobby said if he could skip his children and leave the properties for his grandchildren he would. Since that’s not possible he has given up on his family inheritance plan. Click on the video above to find out why Bobby wants to leapfrog his own sons.
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Steffanie Rivers is a freelance journalist living in the Dallas-Ft. Worth metroplex. Email her at info @SteffanieRivers.com with your comments, questions and speaking inquiries. Follow her @tcbstef on Twitter and Instagram.