Tips for Successful Transition Between Generations

Regina McCann Hess, CFP®, CDFA® |

There’s more to generational wealth than just passing on money to your children. How you pass on your wealth can involve so much more and impact your children's success and well-being. In this episode, I will be addressing what you need to know about family wealth transitions and how to ensure wealth transfer success.

Listen in to gain insight into how to successfully manage and transition family wealth from one generation to the next. I will highlight common issues that crop up and aspects of wealth transfers that require a closer look and better planning. You'll learn key steps to take in order to pursue a successful wealth transition and mitigate the stress and turmoil that too often occurs in these situations.

Listen To The Episode Here:

What You’ll Learn:

  • What to remember about passing on wealth.
  • What commonly goes wrong with family wealth transfers.
  • Things people often don’t think about when it comes to inheritance.
  • How to communicate better about your wealth transition planning.
  • How wealth transition can affect children (the good and the bad).
  • The importance of sharing your values and the reasoning behind what you are planning.
  • Keys to wealth transfer success and the importance of a plan.

Ideas Worth Sharing:

  • “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.” - Regina McCann Hess
  • “Research shows that for many families, the process [of wealth transition] goes awry.” - Regina McCann Hess
  • “A legacy could affect an heir's decision about college or other opportunities.” - Regina McCann Hess


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