Inheriting Family Wealth: How to Prepare

For many high-net-worth individuals with children, amassing wealth may be the easy part; successfully passing down that wealth to their children is where things can get difficult. If you’re the parent, you want to prepare your children for what’s to come. If you’re the one inheriting your parents’ wealth, and if you feel overwhelmed, you’re going to want to create your own game plan. To prepare for the inheritance of family wealth, here are four areas—including understanding common inheritance-related challenges—to help guide both the givers and inheritors forward so that the wealth transfer goes smoothly.