clarke Family

Preparing the next generation for wealth.

The Challenge

After years of dedication, a couple built a highly successful business and sold it for a sum beyond their wildest dreams. However, their excitement quickly turned into concern: How do we ensure this wealth doesn’t derail our children’s motivation?

With a keen awareness of the potential negative impacts of wealth, and a strong desire to preserve their teenage daughter’s relationships and values, the family embarked on a journey to build trust, strengthen communication, and prepare the next generation for responsible stewardship.

The Wealth Conversation Dilemma

When the Clarkes first came to us, conversations about wealth felt like a game of cat and mouse. Their approach was to downplay the amount of wealth they had, often responding to their daughters with vague answers or explaining that much of it was inaccessible.

However, the daughters, —curious and tech-savvy—began piecing together their own estimates. Between Zillow home values, private school tuition, luxury cars, high-end vacations, and publicly available business data, their calculations were surprisingly accurate. They knew the numbers that they were told didn’t add up, and this disconnect bred distrust.

While the question “How much money do we have?” may not be the right one, avoiding the conversation altogether is an even riskier approach. Lack of transparency around wealth fosters uncertainty, weakens relationships, and limits the potential for meaningful engagement.

Shifting the Focus: A Better Conversation

Instead of focusing on a specific dollar amount, we guided the family toward a more empowering question:

“In what way can you contribute to the family wealth?”

Sharing a fixed number can set unrealistic expectations, anchoring the family’s focus on assets rather than relationships. The reality is, wealth fluctuates—market conditions, business opportunities, and unforeseen circumstances all play a role. A more effective approach is to engage the next generation in purpose-driven conversations that encourage self-sufficiency and personal growth:

• How do you see yourself generating your own income?
• What problems in the world interest you enough to work toward a solution?
• What opportunities would you like the family wealth to support, and how can you help move that forward?
• What values helped create this wealth, and how do you see yourself living those values?

By shifting the conversation from wealth as an entitlement to wealth as a tool for contribution, families can foster responsibility, independence, and a strong sense of purpose in the next generation.

The Bigger Picture: Long-Term Wealth Stewardship

As wealth grows and family dynamics evolve, discussions around wealth become more complex. Our research—spanning 3,000 families and over 60 years of experience—reveals a crucial insight: traditional estate planning focuses on assets, not relationships.

We learned that families who successfully transition wealth take the time to proactively develop communication strategies to build trust, engage in meaningful conversations to prepare heirs, and develop shared values, across generations. They recognize that wealth is not just about numbers—it’s about relationships, responsibility, and long-term vision.

*Family name was changed to honor their privacy