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Title: Preparing the Next Generation for Family Wealth Management

United States, 3rd Oct 2025 - In the coming decades, an unprecedented transfer of wealth is set to take place between older and younger generations. Known as the “Great Wealth Transfer,” projections estimate that $124 trillion will pass to heirs by 2048. For families, this raises a critical question: Are children and grandchildren prepared to manage not only financial assets, but also the responsibility that comes with them?Wealth today extends far beyond cash accounts. It often includes real estate, business interests, investments, and other assets that require careful management. Preserving and growing these resources calls for foresight, discipline, and a strong sense of stewardship. To equip the next generation for success, families must make education and preparation a priority.Cultivating Financial Literacy EarlyThe best way to prepare the next generation is to begin financial education early. Ideally, money management is introduced in childhood and evolves into ongoing conversations as children mature. This gradual approach helps wealth feel like a natural part of life rather than an intimidating burden.For young children, simple lessons—such as understanding the difference between saving and spending—can be reinforced through allowances. As they grow older, more advanced topics like investing, compound interest, borrowing, and taxes can be introduced.It’s equally important to engage adult children who may not have received financial education in school. While many states now mandate K–12 financial literacy programs, this shift is relatively new. Adults who missed out on these lessons will benefit from open conversations about what they understand, what they don’t, and what areas they’d like to explore further.Creating a Framework for LearningBeyond informal disc...

This press release is issued by King Newswire