Search

Wealth and Relationships: 4 Foundations of a Successful Wealth Transition


What is the difference between successful and unsuccessful transition planning? Successful transitions mean the family remains intact and in control of their assets.


Successful transitions include:

1. Total family involvement (including spouses and children over the age of 16)

2. A process that integrates what the family members learn so they can co-design their future together

3. A structure that supports learning skills for trust and communication, accountability, openness, team building while engaging in vital conversations

4. Creating shared values and a common mission


Families that are proactive and intentional about maintaining family harmony are significantly more likely to maintain harmony and enjoy a long, prosperous legacy. In short, there needs to be a proven process that keeps everyone on target and aligned.


#wealthtransfer #succession #legacyplanning #heirs #trustsandestates #familybusiness #familygovernance #uhnw #hnw #financialadvisors

21 views0 comments