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On the journey to obtain independence and achieve financial success, the priorities usually include having a good educational experience, a sound resume and a career with a nice salary. That journey
The odds of sustaining wealth across generations are low, and studies show that less than three percent of failures stem from poor estate planning and poor investment returns. This implies that there
While wealthy families prefer to pass nearly two-thirds of their wealth to their children, grandchildren and other heirs, they grapple with a fundamental question: Can their wealth benefit their
Though the challenges to successful wealth transfer across generations may seem overwhelming, they can be overcome. Success requires a commitment of time and energy by the entire family, as well as
While it is true that having money can create great opportunities, it can make some people feel awkward and harbor deep feelings of regret and shame. Those feelings can dramatically influence wealth
Communication is found to be the most important factor for cohesion in families and sustainability of family wealth. As one of the key tenets to happy, healthy, and thriving families, it is essential
Family connectedness, not money, has the greatest influence on multi-generational family continuity. But when many think about legacy, it’s often in the context of multi-generational financial
Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family
Research tells us communication is the most essential ingredient for sustaining wealth across generations. But, cross-generational communication can be particularly challenging, especially within
The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this