Estate planning and creating a will that will successfully provide your beneficiaries with the money and assets you want them to have is complicated and intimidating. Many families lose their wealth over time because they do not know how to handle it properly; about 70% of families that are rich lose most of their wealth by the second generation that inherits it, and about 90% of families have lost their wealth by the third generation. This loss of wealth can be avoided by preparing for the transfer of wealth as soon as you are able to. If a plan is…Read More
According to research on generational wealth and asset management, one of the most significant risks to financial security for future heirs is a lack of preparation and communication about their assets. Heirs should be prepared for their financial futures, whether it’s thousands of dollars or millions. Unfortunately, these conversations rarely happen due to fears and the uncomfortable feelings associated with discussing money matters. It’s important to prepare your heirs for gaining access to a trust fund, which means conquering many of the common fears facing families as they begin the trust funding process. Common Fears Families Face When Leaving An…Read More
