Business owners and wealth transfer

Applying the lessons learned in business to wealth transfer

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In preparing themselves for wealth transfer, business owners adopt the same proactive approach and independent mindset that drives their business activities. This report, the second of four in our wealth transfer series, looks at how business owners acquire financial knowledge, manage the inheritance process and prepare the next generation.

Key findings:
  • Business owners are proactive in educating themselves, defining their wealth transfer plans and preparing the next generation
  • Despite their independent spirit, they recognize the value of professional guidance in educating their children about wealth transfer

Business owners are better prepared than most, but there’s still room for improvement.

Compared to employed professionals, business owners are well-prepared to transfer their personal wealth.

Have a full wealth transfer plan

Have prepared a will

Have made no preparations

Business owners
39%
51%
22%
Employed professionals
25%
49%
35%

The facts on business owners and wealth transfer

2 in 3

conduct independent research to build their personal finance knowledge

40%

silhouette of teenagers

plan to transfer at least some personal assets while living

45%

dollar sign

plan to give their children more guidance on inheritance than they received

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