The successful transfer of wealth to the next generation requires the careful construction of a plan that considers the wealth requirements of each generation and the communication of a family constitution across the generations. Only about 10% of wealthy families adequately prepared the heirs for their future. Intergenerational wealth transfer does not happen by accident; families must work together to document their constitution and build family governance that will manage the wealth over the generations.
Intergenerational wealth transfer does not happen by accident; families must be proactive if they want their wealth to benefit future generations. Planning involves looking into the foreseeable future and setting goals can be accomplished with minimal issues. Here are a few publications to help you engage the next generation: