Wills, Trusts & Estates Prof Blog

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

Thursday, November 19, 2009

Passing Wealth for the First Time Can be Scary

Money The Financial times reports that although the current financial climate may have deceased the assets of the self-made-wealth entrepreneurs of the last decade, these newly-rich families still have enough assets to worry about.

The article claims that families with inexperience in passing on wealth want to delay inheritances by their children until their children reach their 30's and are married or in a stable relationship.  Additionally, families are educating their children on wealth at younger ages and continue to take advantage of financial bootcamps to educate their children about investment.  The bottomline, however, is that "'[p]eople want to make sure their capital doesn’t expire before they do.'” 

See Lucy Warwick-Ching, Succession planning: Tricky bussiness of giving it away, Financial Times, Nov. 10, 2009.

Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.


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