Posted on March 31, 2020
Having appeared as a featured speaker in several TIGER 21 events around the U.S. and in Canada, Legacy Family Office President and CEO Tamara Surratt was invited to speak at a TIGER 21 event in Houston in November. During her presentation, Surratt discussed concrete best practices regarding raising empowered versus entitled heirs, tips on age-appropriate conversations about family wealth, how to prepare heirs for the leadership roles they will one day fill, and how to enhance or establish strong family governance systems.
According to MarketWatch, thirty trillion dollars in assets will be passed from one generation to the next within the next 30 years. Despite this massive transfer of wealth, the majority of heirs are not prepared to manage their inheritance responsibly – which will cause many of these wealth transfers to eventually fail. In order to guarantee a successful transfer of wealth, families must adequately prepare their heirs.
“By focusing on improved trust and communication, thorough preparation of heirs, and a clear family mission for the wealth, families can be well-positioned to raise heirs that become self-reliant, independent and productive individuals,” explains Surratt.
If you would like to talk about the unique challenges facing your family, please contact the Legacy Family Office team at 239-949-1982 or email us at admin@LegacyFamilyOffice.com.
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