Having “The Talk”: How to Prepare The Next Generation For Significant Wealth

How and when should wealthy parents educate their children about their assets and potential trusts? Having “The Talk” about wealth is a topic that provokes uncertainty and delay. Avoiding the exchange, however, only compounds the difficulties. Anxiety and reluctance about this conversation are understandable given the many risks associated with inherited wealth.  This paper provides a few central guidelines to making "The Talk" an effective and positive experience for both generations.