By Jeff Maurer
February 10th, 2025
Many families wait until it’s too late to discuss finances; very few start too early.
In my 50-plus years in the wealth management business, I’ve seen a lot, enough to develop some ideas on best practices for successful wealth transfer.
Here are a few, in chronological order:
- Start early
- Consider differences
- Invest in the next generation
- Keep both eyes open
Over $100 trillion in assets will be transferred within 25 years in the United States: the largest intergenerational transfer of assets on record. Will it be successful?
Change is inevitable. While we are already seeing evidence of this great wealth transfer, we are mindful that life expectancy is rising and that the additional years can be among the most expensive… No one should transfer more than they are comfortable giving or give more than (or before) their heirs will benefit from receiving.
Jeff Maurer, Chairman of Evercore Wealth Management and Evercore Trust Company
Proper planning, education and communication are essential in making (and revisiting) related decisions.
