Tuesday, June 09, 2020

Wealthy Families

Came across this small snippet - Probably on Quora.  Very deep meaning though

Wealthy Families: A brilliant plan is structured to transfer the family’s fortune in the financially optimal way. Estate taxes, private business interests, capital gains — all in the plan. The kids are filthy rich. So are the grandkids. But the soul of the family erodes, and so does the family fortune.

Wealthy Families: These families are not passing on money, they’re passing on a family culture. The family fortune is one tool entrusted to the family, and so they do want a great financial plan. But the fundamental legacy they’ve built is an institution, a culture — a family.