The financial guru highlighted the importance of open communication about wills to strengthen family ties and avoid misunderstandings. He also reaffirmed his commitment to donate most of his fortune to charitable causes.
Warren Buffett He is one of the richest people in the world and in the last few hours he shared financial advice “for all parents”, regardless of their wealth and which surprised more than one of his followers.
“When your children are adults, have them read your will before you sign it,” he urged in a letter to Berkshire Hathaway shareholders on Monday. He oracle of omaha He encouraged his fellow investors to discuss their wills with their beneficiaries and make any changes they deem reasonable while they are healthy, lucid and have time to live.
Buffett’s experience
“Over the years, Charlie and I saw many families split up after the will’s posthumous provisions left the beneficiaries confused and sometimes angry,” Buffett wrote, referring to Charlie Munger, his longtime business partner. life, who died last November at the age of 99.
“Charlie and I also witnessed some cases in which a rich father’s will, fully discussed before his death, helped the family get closer. What could be more satisfying?” he asked.
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Reuters
Buffett’s advice was accompanied by an announcement that he had donated more than $1 billion in Berkshire stock to the charitable foundations of his late first wife and children. The 94-year-old vowed to donate 99% of his $150 billion fortune to charitable causes during his lifetime or shortly after his death.
“I have never wanted to create a dynasty or follow a plan that extended beyond my children.” he wrote. However, Buffett said on Monday that he had identified “three possible successor trustees” to take on the task of donating his fortune in case his three children, the youngest of whom is 66, do not do so during their lifetimes.
Source: Ambito
