Like a successful business owner who can’t find the time to develop a succession plan, wealthy families all too often simply don’t go any further than having the best of intentions. More often than not, the plan is to pass wealth on to future generations, yet the vast majority of people don’t take the time to formalize the process.
Through years of helping families navigate this journey, we at Intercontinental Wealth Advisors have found that one of the most common causes for hesitation is that families simply don’t know where to start. They are really good at creating the wealth, but the idea of having robust and emotional conversations with family members about money is daunting. Although family wealth conversations are complex, they are incredibly important and can become manageable with an organized and well thought out approach.
Learn about the benefits of having these conversations and how to navigate them in our latest special report: