Have you ever seen a mansion wasting away? Or a family business close after several generations? For as long as records have been kept, it seems, 9 in 10 families fail to hold onto their assets – and their family unity – for more than three generations. It doesn't have to be that way. There is a formula for sustaining wealth from one generation to the next, and it has little to do with investment strategies or legal structures and everything to do with building family relationships. In our work with The Heritage Institute, which helps successful families pass on their wealth and unity, we have broken down this formula into five essential elements. Whether you're trying to preserve a $50 million estate or a $50,000 inheritance, these five elements can help you build family lasting unity around shared goals:
The Golden State Warriors knotted their Western Conference semifinal series at two games each with a thrilling 97-87 overtime win yesterday over the visiting San Antonio Spurs. Meanwhile, Indiana took a 2-1 series lead against the New York Knicks in their Eastern Conference semifinal with a win Saturday.
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