Transferring Wealth: It's Not Just About Money

Transferring Wealth: It's Not Just About Money

Managing family wealth, especially when considering the impact on future generations, can be a delicate exercise even for families who have long-term financial plans and strategies in place. Parents who think in terms of creating a family legacy, rather than focusing only on money, can take steps while they still are alive to pass along their values about money to their children and grandchildren. That can help parents feel comfortable about giving money or other assets to their children and grandchildren, knowing they will spend responsibly. By having a strategy and starting early, parents avoid having children who are dependent on them as adults or who are unprepared – and ill-equipped – to handle an inheritance. Read more