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Tips for Successful Transition

Tips for Successful Transition

| January 04, 2023

Research shows that, for many families, the wealth transition process tends to go awry and cause resentment, fighting, and family breakdown. Passing on wealth is not just about getting financial assets to future generations; it’s also about passing on what you think is important and avoiding damage to your children’s relationships with each other. In this episode, I will provide you with some key tips to assist you in successfully (and peacefully) transitioning wealth to the next generation.

Navigating money and difficult conversations can really get in the way, but it doesn’t have to. Listen in to hear common ways that estate transfer and inheritance go wrong and how to plan ahead and avoid those issues. If you are hoping to transfer your estate in a way that blesses your family and generations to come, this episode is for you!

Listen To The Episode Here:

What You’ll Learn:

  • Where wealth transition goes wrong.
  • The importance of communication—even when it’s uncomfortable.
  • How to plan well enough to avoid potential mistakes.
  • The importance of sharing the "why" of your estate plans.
  • Why you should educate and engage your heirs early on.
  • Action items to start working on now to ensure a smooth and successful estate transition.

Ideas Worth Sharing:

“Wealth transfers fail for many reasons. The top explanation is simple—it’s a lack of communication. Most parents are uncomfortable discussing money with their children.” - Regina McCann Hess 

“The ‘why’ of your estate is as important as the ‘what’ if you hope to minimize conflict when you’re gone.” - Regina McCann Hess

"By engaging and educating heirs along the way, you can avoid common costly mistakes later.” - Regina McCann Hess


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