It’s a simple question with a complicated answer, and it shapes nearly every financial decision your family will make. Roughly 97% of family wealth dissipates within three generations, undone not by markets but by a lack of preparation. We don’t believe that outcome is inevitable. With the right planning, your wealth and the values behind it can pass intact to the people who come after you.

There’s an old saying: shirtsleeves to shirtsleeves in three generations. The first builds the wealth, the second enjoys it, and the third is left starting over. It rarely happens because of bad investments. It happens because the next generation was never prepared to receive what they inherited, never taught the values, the responsibility, or the skills that built it in the first place. That part can be changed.

A family business reacts. The thinking goes: I’ve run this for years, my daughter is the GM, I’ll hand it to her when I retire. Logical, but unplanned. A business family prepares ahead of time. They hold annual family meetings, bring in outside experts, and teach the next generation about valuation and their real options, whether buying in, running the business, or charting their own path. They’ve already thought through what comes next.

Financial literacy is only about 10% of the benefit. Family meetings are really about connection, shared values, growth, and lessons passed down. We’ve seen firsthand the difference they make for the next generation, and we help you run them well. A few principles we’ve learned: