BELLEVUE, Wash. — Advisers eager to help their high-net-worth clients pass on both their wealth and a sense of family harmony should master four key aspects of estate planning, according to one expert.
Most HNW individuals’ families have lost their fortunes by the third generation, research has shown. Advisers’ approach to investment and tax planning, family governance and working in teams decides whether clients buck the trend, said BNY Wealth Management national wealth strategist Justin Miller.
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