Have you ever considered or wondered how your loved ones will utilize their inheritance? Will these financial resources unite or divide your family? Have you done a good job in communicating your “money values”? Have you provided a framework to allow your loved one’s success in your absence? If you have answered yes to any of these questions, rest assured you are not alone.
The HBO series “Succession” has turned many heads to the inheritance discussion. “Succession” dramatizes many of your worst fears of power and family challenges as it relates to the wealth transfer conversation. Misunderstandings, conflicts and faulty assumptions could be alleviated with communication. Surprisingly, few wealthy families take the time to address these concerns. Why is that? Perhaps it’s not knowing where to start or it’s the sensitivity of the subject that leads to procrastination.
Having a conversation or family meeting to discuss money in general may simply be out of your comfort zone and this is understandable.
Continue reading below