On this episode, we are going to discuss family meetings with respects to wealth transfer. Tune in to hear us chat about this age-old topic.

Topics:

● Sometimes, inheritances don’t go as smoothly as people would like.
● Why communication is always important to pass on your legacy.
● Every family plan is different, we discuss how to decide which one is best for your family.
● What the future looks like for Millennials vs. Baby Boomers for wealth transfer.

Quotes:

[01:29] “It’s so important to share, sometimes, very detailed information and in other cases...at least a structural layout of things to come.”

[04:01] “Too many people are ready to are just so ready to enjoy the money that’s coming into their hands, that they forget that there is a responsibility that comes along with inheriting wealth.”

[07:20] “Building out intentional communication is key.”

Resources:

The Lerner Group

https://www.fa-mag.com/news/boomers-are-thriving-on-an--unprecedented---9-trillion-inheritance-52819.html

https://www.forbes.com/sites/jackkelly/2019/10/26/millennials-will-become-richest-generation-in-american-history-as-baby-boomers-transfer-over-their-wealth/#58dfd29b6c4b