Families and wealth transfer

Diverse family structures and their influence on wealth preservation

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Different types of families have different approaches to building, preserving and passing on their family legacy. This report, the fourth in our wealth transfer series, looks at how various families share their financial knowledge, prepare their inheritance plans, and educate the next generation on preserving family wealth.

Key findings:
  • Single parents are proactive, confident and well prepared to pass on their wealth to the next generation
  • Blended families face the greatest complexities, yet most believe their inheritors will manage wealth transfer without conflict

Families are increasingly diverse, giving rise to new challenges in wealth transfer.

Blended families have a greater need for wealth transfer planning due to their unique family structures, yet they’re less prepared than other family types.

Blended families

Nuclear families

Single parents

Have a full plan
24%
26%
38%

The facts on families and wealth transfer

49%

of single parents are comfortable sharing all the details of their plans with their children

52%

nuclear family silhouette

of nuclear families make wealth transfer decisions jointly with their spouses

73%

dollar sign

of blended families plan to share their wealth fairly and equally among all their children

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