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Solid Foundation

Solid Foundation

| May 10, 2023

Only about 30% will get this right.

Decades of work, savings and sacrifices have gone into building a successful business.

Yet, the odds are that 70% of families will not successfully transition their wealth to the next generation.

Ask any student taking exams now. That is an F. Test failed.

These odds are like building sandcastles near the ocean. They are beautiful and have served a purpose but they aren’t built on a solid enough foundation to withstand generational shifts. They won’t weather the storms.

“The most important issue that undermines successful transfers of wealth is the breakdown of trust and communication within the family unit.” (Preparing Heirs by Roy Williams & Vic Preisser)

“This breakdown, in turn, leads to a failure in preparing the heirs for their responsibilities…this lack of communication, trust and heir preparation enables weakness within the family to go uncorrected.”

Being ready for a successful transition to younger family members takes time, ongoing honest communication and the assistance of a caring team of professionals who seek first to understand. Once the complexities and nuances are established, your team should be able to collaborate with you and each other to design and implement a plan.

A solid foundation. Resilient and strong.

#heirs #educatedheirs #solidfoundation #bestlife #whatsnext#beready!