Collaborative plans that tackle multigenerational wealth are the way of the future.
Historically, family businesses shied from open discussions about wealth and wealth planning. Parents itemized expectations for their children through legal documents, without input from the children. These plans were typically well-intentioned. But they signaled to the Next Gen that they couldn’t be trusted to handle their wealth. That’s where collaborative plans come in.
This article explains what collaborative plans are and how they are better equipped to aid families in wealth planning.
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