First, the parents who have built a sizable estate that they plan to pass on to their children and
Second, the adult children who have inherited an estate.
An excellent article in Barron’s (June 11, 2018) titled: The New Allure of Sustainable Investing by Carol J. Clouse highlighted the often divergent viewpoints about wealth and family finances.
I have previously written about the differences between the Baby Boom Generation and the Millennial Generation when it comes to issues like: planning for the future; philanthropy; legacy planning; retirement planning; work/leisure balance; and financial and family values.
The Barron’s article brings into focus the differences that generations often exhibit when it comes to issues of investing for social and environmental impact. (Of course, the generalities may not exist for every family.)
Estate Planning can be part of the process of discussions about family wealth and how it can be sustained for future generations.
Differing attitudes about investing need not be a barrier to meaningful family dialogues about inheritance.
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