You’ve spent a lifetime creating a financial legacy. The pivotal question is whether or not your next generation will have the financial insights and skills to protect and expand it. All it takes are a few poor financial decisions or behaviors to rapidly erode your life’s work.
The vast majority (70%) of family wealth is depleted by the 2nd generation (your inheritors), and nearly all of it (90%) is lost before the end of the 3rd generation (their inheritors).1
There’s a reason why so few intergenerational transfers of wealth end up being successful; a lack of family communication and education. Specifically designed to prepare your heirs to become responsible owners and stewards of your family’s wealth, our RESERVE NextGen Education offering focuses on teaching the vital skills that foster positive attitudes and behaviors across a range of financial topics including:
To learn more about this innovative educational offering, talk to a SunTrust advisor today.
1 "Future of Estate Planning – Prepare Heirs to Receive and Manage the Assets They Inherit,” NAEPC Journal of Estate & Tax Planning, June 2010
As year-end approaches, it’s a good time to organize your paperwork and meet with advisors to evaluate your financial plan.
The end of the year is a good time to assess your financial plan and wrap up any loose ends before the tax year concludes. Here’s a checklist to help you get started.
The SunTrust Weekly Market Monitor provides a view of last week’s market events.
Private foundations and the next generation of philanthropy leadership are facing the challenge of geographic dispersion more than ever before. Consider these best practices to address it.
Women today are more educated, engaged and independent than ever before. As a result, fewer and fewer are willing to sit back and accept a passive role in the management of their family’s growing wealth.
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