Overview
From experience and internal research and collaboration with experts and families over the years, 25 non-financial best practices have been identified as having a positive impact on the ultimate success of wealth transfer for a multi-generational family. Interrelated and building off one another, these best practices are anchored along the framework of family cohesiveness, strategic planning, mentoring, governance, philanthropy, and trusts and estates. Families that employ these best practices—starting with clearly defining wealth objectives and a strategic plan—have a higher likelihood of sustaining family wealth across multiple generations.