Advising younger people who inherit wealth

There is an art to passing great wealth between generations successfully. It involves understanding expectations and social pressures at least as much as tax structures and investments.

Social concerns can include protecting children from unwelcome attention as they grow and when they inherit: a transfer that can start to happen at a very young age. In a digital world these concerns are even more acute.

Few substantial estates are passed on now without the protection of trusts family investment companies and advisers. All of these help the process. 

But whatever protection is given to substantial wealth the emphasis for those passing it on is financial education and good stewardship. Above all there is usually a family dynamic to respect and often a shared purpose. 

However as with any family conflicts can arise and these can test the bonds holding people together. Making sure that all needs are met...