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%
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