If his face doesn't look familiar, you may have seen his name on lists of the world's richest men with a net worth of approximately $150 billion. The 94-year-old tycoon, investor and philanthropist Warren Buffett has once again topped the news after announcing the donation of $1.15 billion in Berkshire Hathaway stock to several family foundations.
Donate all your wealth?
It was in 2006 that he made an announcement regarding donating 99% of his entire fortune to charity. Since that year, he has donated nearly $58 billion, and continues his commitment year after year.
A message to share
Along with his latest donation, he took the time to share a few words regarding his thoughts on death, inheritance and wills. Buffett has commented on more than one occasion that he will not leave his entire fortune to his children but, in keeping with his philosophy, will leave them “enough so they can do anything, but not enough so they can do nothing”.
Because of his age, he recognizes that today he is “closer than far” from death, which has led him to organize documents, distribute fortunes, leave specific orders, and share a message:
“Tomorrow's decisions will probably be better made by three living, well-directed brains than by one dead hand (...) When your children are mature, have them read your will before signing it”, pointing out the importance of knowledge of those included in the will, in order to avoid misunderstandings and future conflicts.
“If anyone has questions or suggestions, listen to them carefully and adopt the ones you think are sensible. You don't want your children to ask “why?” about testamentary decisions when you can no longer answer them”, he said in his reflection.
The distribution of his fortune would be left to his three children Susie, Howie and Peter, who will carry on Warren Buffett's philanthropic legacy.
The importance of leaving things organized
Life is full of surprises, and although talking about the end of it is not usually pleasant, it is essential to prepare for the future. The organization prior to our farewell, not only helps to alleviate the emotional burden and to be calmer in life, but also guarantees the fulfillment of our wishes. Some of its possible benefits are:
- Facilitate decision making for your loved ones
- Prevent possible family conflicts.
- Ensuring that our messages and wishes are heard.
- Promote our personal legacy.
If you want to start building your legacy today, WILSEND is here to help. Check out our services or contact us for more information.
Don't let your messages and memories get lost.
