Spear’s Magazine
By Livia Giannotti
April 26th, 2024
Money and power can create major problems for the world’s wealthiest families – as these disputes prove…
Great family wealth has its benefits, of course. But keeping a fortune within a family is often a process fraught with difficulties – and conflicts.
There are questions of inheritance, legacy, fairness, equality and entitlement, as well as practical considerations surrounding tax, asset management, and wealth preservation.
Typically grouped under the umbrella of ‘succession planning‘, this is an area of increasing focus for family offices, lawyers and wealth managers as they anticipate the seismic impact of what has been dubbed ‘The Great Wealth Transfer‘.
Without the correct processes in place, the difficulty of passing wealth from one generation to the next can cause irrevocable damage.
