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Putting Family First: Intergenerational Wealth Transfer and Investment Planning  

Author:  John R. Wiktor, J.D..

Source: Volume 27, Number 03, Spring 2010 , pp.69-77(9)

Journal of Taxation of Investments

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When parents discuss their expected wealth transfer with their children, there can be many benefits for the younger generation, including an awareness of the family’s wealth and values, a sense of money management, the ability to interact with outside advisors, and a deeper understanding of charity and those initiatives that interest the younger generations. Despite the obvious benefits of family planning, for parents, the combination of transferring wealth to the younger generations and teaching issues of money management and philanthropy can raise numerous questions, for example: How much is too much to leave to the next generation? How do I balance between leaving enough for my children andsupporting charity? What charitable vehicles are best to emphasize philanthropy withthe next generation?What are the benefits of intergenerational charitable planning? Can I foster an interest in my children’s philanthropy? This article discusses a six-step process to help answer many of these questions and provide guidance to families and advisors who are involved in intergenerational wealth transfer planning. The goal of this process is to promote family values and provide a good base from a tax and investment perspective.


Affiliations:  1: Horwood Marcus & Berk Chartered.

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