There’s More to Legacy than Simply an Inheritance
Today’s elder generation is set to pass along the largest inheritance, more than $25 trillion, in history. As more high net worth families face inheritance decisions, those who wish to be succcessful are turning their attention to legacy planning.
Defining legacy planning. Beyond traditional estate planning, legacy planning is an opportunity to define, reflect on, and express what wealth really means to a family so that not only wealth, but also a family’s core values, are passed on to future generations. Legacy planning is a collaborative effort that requires open discussion not only with your wealth advisor, but also with family members. Families who develop a healthy attitude toward their wealth through open and honest discussion are typically more likely to see that wealth preserved from generation to generation.