Over the years, I have done a lot of work in helping families build succession plans and manage their assets. Sometimes, this involves dividing their assets.
What I have often seen is that the family differences in terms of behaviors, communication and attitudes are magnified because of the way each person deals with the beach house. Put another way, bad behavior or perceived bad behavior around the beach house spills over to arguments over the family investments and business interests. How important is your family beach house?
Interestingly, other wealth advisors are seeing the same thing.? See what Stacy Allred from Merrill Lynch has to say – click here.
Visit the Financial DNA website to learn more about our solutions for navigating the different behavioral styles and emotions of family members.