Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Wednesday, July 17, 2013

Bank Program's Focal Point is the Inheritor

CashStudies show that half of all family funds are lost because of poor spending habits or bad investing. In 2002, Citi Private Bank developed a program geared toward the inheritor called the NextGen program. Families with at least $25 million in assets are eligible to participate in the program. The purpose of the program is to train inheritors to be smarter investors by exposing them to best practices so that after they inherit their money they can have a foundation on different topics like investing, entrepreneurship, and family legacy planning. A few other banks offer similar programs, but the goal is the same: teach heirs about ways to be smarter investors and encourage them to resist spending the money too quickly.   

See Robert Milbum, A Club for Young Heirs, Barron's, Jul. 8, 2013.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.


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