Barrett Legacy Estate Solutions

Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation.[1] To help your loved ones avoid becoming part of this statistic, you need to educate and update your extended family about your wealth transfer goals and the plan you have put in place to achieve these goals.

What Must You Communicate to Future Generations to Facilitate Transfer of Your Wealth?

You should consider communicating the following information to your family to ensure that your loved ones understand and will be prepared to carry out your wishes during a difficult time:

 

How Can Your Professional Advisors Help You Communicate Your Wealth Transfer Goals?

Your professional advisors are well-positioned to help you discover your wealth priorities, goals, and objectives and then communicate this information to your family. This will prepare your family to receive your accounts and property and not be left to figure out your intentions on their own, which could, as statistics have shown, risk them losing it all.

We can assist you with determining your wealth transfer goals, creating a plan to achieve these goals, and effectively communicating this information to your loved ones. Please contact our Norman, Oklahoma office at 405-928-4075

[1]  About Us, The Williams Group, https://www.thewilliamsgroup.org/about-us (last visited June 25, 2021).