Family Wealth Transition Planning: Advising Families With Small Businesses by Bonnie Brown Hartley & Gwendolyn Griffith, ISBN 9781576603352

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Author: Bonnie Brown Hartley & Gwendolyn Griffith

Managing the transition of family wealth from generation to generation is a daunting task. Families with businesses require inheritance plans that are even more complicated because wealth and worth are often intricately woven into the business. And many transition plans focus only on financial capital and ignore a family's less tangible assets. Other plans detail the intrinsic elements of an inheritance without satisfying the practical issues. In Family Wealth Transition Planning, the authors guide advisers to families with small businesses through the intricate process of preparing and transferring wealth to heirs. They take a holistic view of transition planning, focusing on the assets that fall under the umbrella of financial capital, as well as the other key sources of family wealth - human and social capital. The book highlights the essentials to achieving successful wealth continuity: healthy family relationships; responsible stewardship of wealth, in all forms; and the creation and preservation of the family legacy.

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