Inheriting wealth brings a unique set of challenges, and heirs, both young and old, are often unprepared for this new responsibility. Heirs must often grapple with tough decisions such as:
- How will wealth change me?
- Should I stop working?
- How do I select an investment advisor?
- How much should I spend?
- How will people treat me differently?
Parents who have accumulated wealth are sometimes apprehensive about leaving or gifting wealth to the next generation. Discussing family legacy and wealth transfer can be difficult and parents often want guidance in how to have these discussions with their children.
Novare Capital Management understands these challenges and is committed to helping our clients discuss and provide financial education to their heirs about wealth transfer and financial management. Our team of financial professionals will help moderate these tough conversations about wealth transfer and spend time with heirs educating them on sound financial principles with the goal of growing and preserving wealth.