Aspects & Issues

Love and money are two separate things

Over the next 50 years, more than $41 trillion dollars will pass from one generation to the next.*   Many wealthy families are focused solely on preparing for the transfer of their assets and may feel daunted by the idea of addressing the emotional issues that exist within the family.  Unarticulated expectations, wishes, hopes and concerns – of both the heirs and their parents -- are often a landmine of complex emotions.  These emotions are heightened when mourning the loss of a loved one.

The Wealth Legacy Group is experienced in facilitating communication in families preparing for wealth transfer. We provide generation-specific tools that ease the process and address the emotional components that often disrupt families.

Among the issues addressed are:

• lack of open communication about the impact of money on  various generations
• the fuzzy line between love and money
• educating heirs, despite a reluctance to admit what needs to be learned or the importance of mentoring
• a sense of inequity
• blended families: managing the delicate task of if, when and how to blend assets

WLG is focused on exploring and clarifying familial rules, understanding underlying concerns and unlocking the key to enjoying your financial legacy and leading a rich life.

*Source: Social Welfare Research Institute, 1999 study on wealth transfer