Best Practices of
Generational Wealth Transfer
There are many facets to consider when planning your family’s wealth transfer. These 10 best practices will help you stay focused on how to execute the most efficient transfer possible.
Think of monetary wealth as part of a larger picture. Although monetary wealth is important for your family’s security, it’s important to consider monetary assets as part of a larger family legacy. A successful transfer of wealth should also include family values, stories and traditions. Wealth transfer means not only uniting your family behind your...
Generational Wealth Transfer
PARENTS, ALZHEIMER’S & MONEY
Teaching Your Heirs to Value Your Wealth
Values can help determine goals & a clear purpose.
Some millionaires are reluctant to talk to their kids about family wealth. Perhaps they are afraid what their heirs may do with it.
It can be awkward to talk about such matters, but these parents likely postponed discussing this topic for another reason: they wanted their kids to grow up with a strong work ethic instead of a “wealth ethic.”
Leaving a Legacy Plan
We will all leave this world sometime. Why leave unanswered questions with those we love?
We all want to live a significant, successful life. Yet how many of us realize that our important, positive contributions can last long after we are gone?
Two things are certain: death and taxes. Some of us grasp that reality early, so we create wills, living trusts and estate plans. Others deny this reality and leave their heirs with perplexing questions, added...
