Michelle Stark, Product Head Philanthropy at FNB Fiduciary
January is the perfect time for meaningful family discussions. After the festive season, when everyone is relaxed and focused on the year ahead, these conversations can help set the tone for your family’s future and ensure your legacy is built with intention.
Legacy isn’t just about financial planning, it’s about values, purpose and the impact you want to leave behind. These conversations create clarity, strengthen family bonds and help everyone understand the bigger picture of what matters most for generations to come.
Below are five conversations to start with your family this January:
1. What does legacy mean to us?
Define what “legacy” means for your family – financial security, shared values, charitable giving, or creating opportunities for future generations. Aligning on this vision sets the foundation for meaningful decisions.
Tip: Legacy isn’t just about wealth – it’s about impact and intention.
2. How do we give back together?
Discuss ways your family can make a difference. Whether it’s supporting a cause, volunteering, or setting up a family Foundation, giving back creates a lasting impact beyond the holiday season and is a way of leaving a legacy in perpetuity.
Tip: Consider creating a family giving plan that reflects your shared values.
3. Are we prepared for the future?
Talk openly about financial planning, wills and estate structures. These conversations ensure clarity and prevent uncertainty later. Planning ahead protects your family and preserves your wishes.
Tip: A well-structured estate plan is a gift of peace of mind.
4. How do we teach the next generation about money and values?
Legacy is about more than assets; it’s about passing down wisdom. Share lessons on financial responsibility, social investment, and long-term thinking with younger family members.
Tip: Involve children in small acts of giving to instil values early.
5. What’s our vision for generational wealth?
Discuss how to grow and sustain wealth across generations. This includes investment strategies, trusts, leaving a lasting legacy, and succession planning for family businesses.
Tip: Generational wealth thrives on planning and communication.
ENDS
