LISTEN TO THE WEBINAR
Omnia Family Wealth hosted an interactive webinar discussion on Thursday, November 16 to explore “Sudden Wealth Syndrome,” how it impacts families, and their wealth, and most importantly, how to prevent it from happening.
In the discussion, participants heard strategies to help prepare and educate heirs and overcome the many challenges of multi-generational wealth transfer. Beginning with open, honest communication, then implementing creative planning strategies, families who address a change that will eventually happen are often able to beat the dismal odds of sustaining wealth through generations while maintaining family harmony. We will discuss:
- When to begin preparation and how family members can be involved
- How to help heirs understand money isn’t representative of love, especially when siblings inherit unequal amounts
- The importance of continuity among your estate planning documents and providers and how to achieve it
- Case studies of families who have experienced the challenges of preparing for a wealth transition