In our year-end message we alluded to some great things to come for Wealth Succession in 2025. Our business created a great ecosystem between wealth and succession advisors and our client families.
As we approach the end of 2024, it is with a great sense of gratitude that I get to close off the year with a letter of thanks to you.
Countless debates, articles and even funny adverts have been dedicated to the topic of succession as we near the “great wealth transfer” from the baby boomers to their successors.
Trusts are fantastically peculiar and continue to confound jurists and legal scholars and have been doing so for hundreds of years.
In Roman Times, an heir could receive a nasty surprise when the will of a deceased parent was read. In Roman Times, an heir could inherit a parent’s debt.
Every man, in proportion to his virtue, considers himself, with respect to the great community of mankind, as the steward and guardian of their interest in the property which he chances to possess.
In many Ancient Greek and Roman tragedies, the dramatist introduced a “god” to resolve complicated or seemingly hopeless situations.
“Oh, the shock and horror”, laments the social media darling to her gasping social media audience. “If you die without a Will, the big-bad-wolf Government will take all you have, including your children”. Hurry to the business I am promoting so selflessly to you and save your wealth and save your children.”
Countless articles have been written, videos made, lectures and talks given on succession, succession in the context of estate planning, Wills, and the administration of deceased estates, but many people still do not know what they need to plan for.
For many people, love, laughter and happily ever after can exist without the big white dress and the church bells ringing. In fact, for many modern couples, living together as man and wife no longer requires a formal marriage being entered.