Estate planning can be complicated — and not just for wealthy people. Though the word “estate” is often associated with the upper class, an estate is anything that will be left to heirs after death. This means the middle class needs to think about estate planning just as much as the upper class. Estates not only cover dispersing money and assets, but can also cover guardianship of children, healthcare directives and taxes.
CEO of Berkshire Hathaway Warren Buffett has a very substantial estate to think about. According to Forbes, Buffett is worth nearly $150 billion as of early February 2025. Buffett has three children: Howard, Susan and Peter. He posted a letter in November 2024 to Berkshire Hathaway shareholders that discussed how he planned on dispersing his wealth.
He also gave advice for parents that he felt applied “whether they are of modest or staggering wealth.” Here’s the advice from Buffett parents planning their estates should take to heart.
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