We are in our 50s with $8 million in net worth and are worried about telling our children just how much money we really have

The OP is in an enviable position, but he's also in a difficult situation, as children of wealthy parents sometimes fail to thrive when they know an inheritance is guaranteed.

It's important for parents leaving substantial wealth behind to prepare their children for managing it effectively, fostering their independence rather than reliance on future wealth.

Read at 24/7 Wall St.