Strategies for Preparing the Next Generation for Wealth

December 15, 2021

How Not to Be a Statistic When It Comes to Generational Wealth

The transfer of wealth from one generation to the next is an obstacle all high-net-worth families face during the estate planning process. Over the next 25 years, the United States will experience the most significant wealth transfer in history, with around $68 trillion passed to the next generation. Given the scale of this coming wealth transfer, the need for preparation is greater than ever. The need for proper communication about potential strategies to ensure these transfers go smoothly for families is even more significant.

Parents frequently express to us both qualitative (who and when) and quantitative (how much) concerns regarding passing their wealth to the next generation. Research from the Williams Group wealth consultancy backs up those parental concerns. Seventy percent of families lose their wealth by the second generation and ninety percent by the third. To avoid falling victim to this statistic, parents must be both proactive and intentional when it comes to transferring their wealth.

So what can you do to prevent this…to extend your legacy? The team at NewEdge Wealth has prepared a whitepaper with important information you should know. Click below to download this insightful report.

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