Successfully transferring wealth to your heirs is a challenging but priceless undertaking. It is the result of careful, thoughtful planning and should not be taken lightly. The following article discusses some of the more important things to consider while making these valuable decisions.
There are no easy answers when it comes to prenuptial agreements, but understanding the fundamentals will help ensure that the agreement is ultimately fair to all parties, achieves the family’s objectives, and will withstand any future challenge.
How and when should wealthy parents educate their children about their assets and potential trusts? Having “The Talk” about wealth is a topic that provokes uncertainty and delay. Avoiding the exchange, however, only compounds the difficulties.
Amy Hart Clyne, Executive Director – Family Office Exchange
Wednesday, February 25, 2015
Amy Hart Clyne identified five generational themes and eight recommendations to help family leaders, family office staff, and advisors strengthen their relationships with the Millennials in the family.
Today’s young adult family clients – specifically those who identify as Millennials or Gen Y – are bringing a distinct set of preferences and sensibilities to their relationships with their most trusted advisors.
One of the things we’ve learned is that a family contract can be a valuable tool to help families build trust and avoid conflicts. We’ve also found that for a contract to work well, everyone who signs the contract should have a say in how the contract is written.
Many families of wealth struggle with a fundamental question: Can our wealth be sustained across generations and have a positive impact on those who use it? This article has identified a series of best practices for the successful transfer of multi-generational wealth and believes that f