Did you know? 70% of wealthy families lose their entire wealth by the second generation, and a stunning 90% by the third, according to The Williams Group.
What can you do to prevent this…to extend your legacy? The children of wealthy families have both privileges and burdens that they must learn to manage effectively. When it comes to the family wealth, it can be difficult for parents to know how much information to share and when to share it.
Hosted by John Straus, Jr., panelists Jessica Andrews and Lauren Detering explore the do’s and don’ts, how not to be a statistic, and how to help ensure your children make wise financial decisions, regardless of their age.
Strategies for Preparing the Next Generation for 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.
So what can you do to extend your legacy? The team at NewEdge Wealth has prepared a whitepaper with important information you should know.
Fill out the form below to request your copy of this insightful whitepaper.
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