InvestmentNews
By Steve Randall
October 6th, 2025
How to have constructive talks regarding wealth, values, legacy.
Talking about money is never easy, especially when it involves inheritance, and in many wealthy families, conversations about who gets what, when, and why can feel uncomfortable or even taboo.
But UBS’s Judy Spalthoff and Libby Stantial have been telling InvestmentNews how avoiding the subject may create more problems than it solves and sharing the strategies that can help advisors get the conversation started.
“The biggest barrier is often discomfort and fear,” says Spalthoff, head of Family Office Solutions at UBS. “Many parents worry that discussing wealth will create entitlement or diminish motivation in their children.”
She points to findings from the 2024 Cerulli US HNW & UHNW Market Report which reveal that 64% of high-net-worth clients are uncomfortable sharing financial information with their children, and 44% are unwilling to relinquish control.
“Baby boomers, for example, often see money as a private or even taboo topic,” she adds. “However, delaying these conversations can lead to greater challenges later. Proactive, values-based dialogue helps families avoid misunderstandings and fosters responsible stewardship.”
For heirs hoping to start the conversation, Stantial, a UBS strategist who works with multigenerational families, advises starting from a place of curiosity rather than expectation.
“Younger generations increasingly value transparency and open dialogue,” she says. “Heirs can respectfully initiate conversations by focusing on values and family vision rather than specific numbers.”
