Are you thinking about legacy all wrong? What if legacy wasn't about preserving the past but shaping the future?

In this eye-opening episode, Adam Hill challenges the traditional approach to legacy planning. He argues that focusing solely on wealth transfer misses the most important aspects of building a lasting legacy. He also emphasizes the critical need to prepare the next generation for success, not only in finances, but also in mindset, values, and lifestyle.

The true power of legacy lies in preparing the next generation to create their own vision, live fulfilling lives, and make a lasting impact on the world. Legacy, at its core, should be a catalyst for abundance, not a burden of scarcity. Listen to discover a fresh approach that could transform how you think about building a lasting family legacy.

Here are some power takeaways from today’s conversation:

• Cultivating an abundance mindset vs. a scarcity mindset

• Preserving the founder's vision while allowing for evolution

• Engaging the family in learning about their history and heritage

• Addressing legacy burdens and generational trauma

• Balancing wealth preservation and value creation

• Instilling a spirit of philanthropy and contribution

• Prioritizing health, wellness, and work-life balance

Episode Highlights:

[01:52] True legacy lies not in the perfection of wealth transfer.

Prepare the next generation with the right mindset, values, and resources to create lasting prosperity, as even the most expertly executed wealth plans often fail to sustain wealth over multiple generations.

[05:06] Legacy starts with a mindset.

An abundance mindset is more valuable than a scarcity mindset stemming from focusing too much on wealth transfer rather than empowering future generations.

[07:14] Preserve the founder’s vision while allowing for evolution.

As the founder's vision gets passed down, it becomes increasingly clouded. Adam stresses the need for a mechanism that preserves the founder's vision while enabling future generations to develop new visions aligned with the present and future.

[10:26] Family history and heritage are important in legacy planning.

Actively involving children in researching and learning about their family's past can provide a crucial foundation for them to build upon and shape their legacy.

[12:23] Family history and heritage are important in legacy planning.

Actively involving children in researching and learning about their family's past can provide a crucial foundation for them to build upon and shape their legacy.

[14:52] Balance wealth preservation and value creation.

The next generation must also learn the critical skill of value creation, not just wealth preservation. Each successive generation needs to add new value to sustain and grow the family's legacy, not just maintain the existing wealth.

[16:49] Instill a spirit of philanthropy and contribution.

Setting up philanthropic organizations is an important way to channel that wealth back into the community and teach the next generation the value of giving and contribution.

[18:15] Prioritize health and wellness

Addressing mental health, addiction, and generational trauma can protect and strengthen the family's legacy by ensuring each generation is psychologically and physically equipped to create value and thrive.

[19:05] Legacy planning must encompass lifestyle design.

Enable future generations to live lives of abundance, adventure, and love while creating value and contributing to the greater good, rather than becoming workaholics solely focused on the family business.

Follow Adam…

Sign up for my newsletter and get my free Vision/Reflection Retreat Guide:

Follow me and turn fear into flow!

IG: @theadamchill

YouTube: @adamchill

TikTok: @theadamchill