Wealth Creators' Dilemma: How Much to Delegate?

The very rich are different from you and me, F. Scott Fitzgerald began one of his stories. Ernest Hemingway famously rejoined, they have more money. We would add that they also have more money managers, trustees and advisors. For great wealth always entails the delegation of responsibilities and authority. Death forces the ultimate delegation. And every plan represents a set of decisions about what

“The very rich are different from you and me,” F. Scott Fitzgerald began one of his stories. “Yes,” Ernest Hemingway famously rejoined, “they have more money.” We would add that they also have more money managers, trustees and advisors. For great wealth always entails the delegation of responsibilities and authority. Death forces the ultimate delegation. And every plan represents a set of decisions about what should be entrusted to whom for what purpose.

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