Prepare for the Journey Ahead: How Families and Advisors Can Equip the Next Generation to Build Their Own Fire
Based on insights from a recent episode of the Visionary Advisor Podcast, featuring David R. York, attorney, CPA, and Managing Partner at York Howell, in conversation with Alex Kirby of Total Family.
Drawing from his book Entrusted: Building a Legacy That Lasts, David reframes estate planning as a deeply human process—one that helps families move from fear-based planning to purpose-driven living. He explains why true legacy isn’t built through documents or tax strategies, but through values, dialogue, and intentional preparation for the generations ahead.
Imagine sending your child into the forest with a burning log. It’s bright for a moment, but soon the flame dies—and with it, their warmth and security. That’s how many families handle wealth transfer: they pass on resources without teaching how to sustain them.
As estate planning attorney David R. York explains on the Visionary Advisor Podcast, inherited wealth is finite. Even among high-net-worth families, 40 percent of inherited wealth disappears within five years of transfer. The problem isn’t poor planning—it’s a lack of preparation. The next generation doesn’t need more money; they need the skills and guidance to create their own fire.
From Money to Meaning
One way to hand them flint and kindling is by sharing advice rooted in values rather than dollars. In his clip Resource What You Value, York notes that successful families know what matters most and put their time, talent, and treasure toward it.
Advisors can help clients identify those values and align their plans accordingly. Money can fund a family’s fire, but only purpose keeps it burning.
York reminds us that most people never define what they value, scattering wealth and energy across disconnected pursuits. Helping families clarify their principles transforms estate planning from a transfer of assets into a transfer of alignment—a chance to teach the next generation how to build and tend their own flames.
Legacy That Lasts
This work becomes even more urgent when we accept what York outlines in Legacy Is Not Optional.
Every family leaves a mark; the only question is whether that legacy will endure well or fade quickly. “Reality is, impact is not optional,” he says. “Whatever you do, you will leave a legacy.” Advisors who embrace this truth shift their focus from preserving capital to cultivating capacity—the ability of heirs to lead, decide, and contribute with meaning.
The next generation wants to have these conversations. Their search for purpose has already begun, and if not, it eventually will—as it does for everyone. By engaging early and framing wealth as a tool for connection rather than accumulation, advisors help families turn inheritance into inspiration.
Because when we teach others to make their own fire, we don’t just pass down wealth—we pass down wisdom, resilience, and purpose that can warm generations to come.
To keep exploring how top advisors are redefining what it means to lead with empathy and vision, revisit previous insights from the Visionary Advisor Podcast:
The WSJ Was Right About Family Mission Statements — But Here’s What They Overlooked — with Whitney Webb of Cresset, on the process as the point when it comes to legacy conversations.
Families, Not Just Finances — with Rachel Hyman of Family Wealth Alliance, on how families define true value beyond performance.
Sail the Great Trust Gap — with the Head of Banking at Capgemini, on how connection and credibility drive trust in modern advisory relationships.
And for the full conversation with David York, visit the Visionary Advisor Podcast archive:
https://visionaryadvisor.buzzsprout.com
