Throughout Southern California
View Our Practice Areas

It Is Not Always Easy to Preserve Generational Wealth

The generation that inherits wealth may not be aware of how hard it was to accumulate it.

Grandchildren and great-grandchildren of an initial wealth generator may not be qualified to preserve wealth, according to an article in Private Wealth "Heirs May Not Guard Wealth, An Advisor Says."

The further removed heirs are from those who created the wealth, the less likely those heirs are to understand the work that went into it and the more likely it is that having wealth will seem like a natural occurrence to them.

This often leads to these later generations spending more of the wealth than they should and not leaving enough for it to continue passing down through the family.

There are ways to help protect against this.

Those who create the wealth can discuss the issue with their estate planning attorneys and devise ways to make it more difficult for later generations to waste what they inherit. Another good idea is to make sure that subsequent generations receive solid financial educations and advice.

An estate planning attorney can guide you creating an estate plan to fit your unique financial situation, including preserving generational wealth.

No Comments

Leave a comment
Comment Information
Email Us For A Response

Find Out The Difference That Experience And Expertise Makes

Get the peace of mind that you deserve. First, attend a seminar. This will entitle you to a free initial consultation and a discounted estate planning fee. To learn more about our services or sign up for a seminar, contact us online or call us at 866-402-1805. We have offices in Torrance, Orange, Newport Beach, Pasadena and Woodland Hills.

Questions? Contact Us.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Call Now For A Free Consultation: 866-402-1805
  • ${site.data.firmName}${SEMFirmNameAlt}
  • Main Office: Torrance

    Torrance Office
    990 West 190th Street
    Suite 500
    Torrance, CA 90502

    Toll Free: 866-402-1805
    Map & Directions

    Orange Office
    333 City Boulevard Street
    17th Floor
    Orange, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Newport Beach Office
    5000 Birch Street
    Suite 8000
    Newport Beach, CA 92660

    Toll Free: 866-402-1805
    Map & Directions

    Pasadena Office
    790 East Colorado Boulevard
    9th Floor
    Pasadena, CA 91101

    Toll Free: 866-402-1805
    Map & Directions

    Woodland Hills Office
    5850 Canoga Avenue
    4th Floor
    Woodland Hills, CA 91367

    Toll Free: 866-402-1805
    Map & Directions

    Office map