Assisting families retain their wealth
“Shirt sleeves to shirt sleeves in three generations” rings true today just as much as it did when it was written in the 1800s. The premise is that the first generation is hard working / entrepreneurial and builds the wealth, the second generation enjoys the fruits, but regrettably looses the majority of the guiding principles and wealth and so the cycle continues.
Maintaining intergenerational wealth and harmony is an ongoing challenge. In fact, during the next decade we will experience the largest transfer of intergenerational wealth in its history. This transfer of financial wealth will also accompany the transfer of leadership within communities and families.
The transfer of leadership will be just as important as financial transfers and will define a path for future generations. Will the next generation acquire and maintain family history and traditions? Will they be prepared to handle the financial inheritance and the responsibility that comes with it? With a thoughtful plan you can set some parameters that will give you protection as well as ensure the wealth remains within your bloodline should you choose.