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by Richard Watts (Author)
Will you leave behind a legacy, or merely an inheritance?
In Legacy Redefined, Richard Watts, advisor and legal counsel to America's wealthiest families, shares cautionary tales of how financial inheritance can create conflict for those who receive it. If you intend to leave money to your kids, you need to read this heartfelt deep dive into the best practices for passing money to your heirs. Just as important, Richard redefines true legacy as the impact you create for others, and guides you on how to begin your legacy while you are living. It isn't your money that will create the most meaningful impact. To be remembered, you must be memorable. And to be memorable, you must do for others.
Legacy Redefined is a wake-up call for the many who strive to acquire wealth and have a vision of leaving sums of money for their families, not realizing that pride in their accumulations and care in managing their money is difficult to transfer to the next generation. Watts illustrates how our daily choices are woven into the grand tapestry of our legacy, and how focusing on those around us, rather than ourselves, will leave a lasting memory for those we touch.
He explores such concepts as:
- The pitfalls of leaving a large inheritance, and suggestions for creating a family-strengthening estate plan
- Asking the right questions to live a life led by intentionality
- The many ways to leave a profound personal legacy and how to honor others
- Phillegacy, deep longing for someone or something past, intertwined with gratitude for having had the experience
Your legacy is not as simple as leaving behind wealth and belongings; it is about the impact you create, the way your actions alter another's life, and how you are remembered by your loved ones and friends.
Author Biography
Richard Watts, lawyer, author, columnist, speaker, and problem solver, is the wise counsel to many of America's wealthiest families. They rely on him to make difficult decisions, and to guide their families and journey through the rapids of life. From behind these castle walls, Richard provides the wisdom and counsel to help them avoid the pitfalls of excess and entitlement.
The founder of Family Business Office(R) ("FBO"), Richard was admitted to practice law in 1982 and is an alumnus of the Harvard Business School. Richard contributes to numerous publications, including Newsweek, Forbes, CNBC, Variety Magazine, The Guardian, Money Watch, The Globe and Mail, The Huffington Post, OC Register, and The Washington Times. He has appeared on Fox Nation, CNBC, CBS, RTLA, ABC, and NRP. Richard speaks internationally on the hazards of having too much, the effects of wealth on parenting in the modern affluent family, crafting a safe estate plan, and what it means to create an impactful legacy.
Richard has authored the books Fables of Fortune: What Rich People Have That You Don't Want, Entitlemania: How Not To Spoil Your Kids, And What To Do If You Have, and his latest book in the Wisdom Series, Legacy Redefined: Create An Impact Money Can't Buy.
Richard and his wife of forty-seven years are residents of Laguna Beach, California. His passions include his Christian faith, international travel with his wife and family, longboard surfing, swimming, skiing, piano, and meeting at coffee shops to discuss topics that matter. He is the proud father of three adult sons: Aaron (wife Rene), Todd (wife Stephanie), Russell (wife Serena), and grandfather to Maclane, Lucy, Chandler, Bennett, and Ford.
Richard has a talent for creativity and will continue writing books to improve the lives of others. Richard often speaks on these topics to business, religious, charitable, and parent organizations. Variety Magazine calls Richard, "One of the nation's leading experts on family wealth and legacy." (2026)
