Key Summary:
At Prosperity Partners, we help families design generational wealth transfer strategies that reflect their values, family culture, and long-term goals. From multigenerational planning to succession strategy and tax-efficient transfers, our advisors guide families through high-stakes decisions with clarity and confidence.
As part of our Family Office Services, we work with families navigating how – and how much – wealth to pass on to future generations. These decisions are about more than taxes and trusts. They’re about legacy, stewardship, and preparing the next generation to lead with purpose.
Why Families Are Rethinking Wealth Transfers
We’re seeing increased interest in generational skipping transfer strategies, especially in states that allow long-term or perpetual trusts. However, the decision to use them is rarely simple. For many families, particularly those still operating a business, the conversation often centers around values: Should the next generation inherit everything? Or should they earn their share?
We often hear from patriarchs and matriarchs who say, “We want to transfer wealth – but we want our children and grandchildren to earn responsibility, not just receive assets.” This desire to balance inheritance with accountability is shaping how family offices structure roles, governance, and succession plans.
What Influences a Family’s Transfer Strategy?
There’s no one-size-fits-all solution. Every family is unique, and the transfer strategy often depends on:
- The involvement of second and third generations in the family business
- The existing structure and governance of the family office
- Attitudes toward earned vs. gifted wealth
- Long-term estate planning goals
- The values and communication style of the family’s leadership
At Prosperity Partners, we help families slow down the process, explore options, and avoid rushed decisions. Our approach ensures the strategy aligns with the family’s culture and future vision – not just short-term tax efficiency.
Learn More About Our Expertise
If you’re preparing for a liquidity event, designing a family office, or considering how to best prepare your children or grandchildren, our advisors can help you build a strategy rooted in clarity, discipline, and trust.
Contact us to start the conversation.
Frequently Asked Questions
What is a generational skipping trust?
A generational skipping trust is an estate planning tool that allows wealth to pass directly to grandchildren (or even further descendants), bypassing the children. This can reduce estate taxes and preserve family wealth long-term – but must be carefully planned around GST tax rules and family dynamics.
How do family offices approach generational wealth transfer?
Family offices take a holistic approach – combining tax planning, governance, succession planning, and family education. The best strategies support continuity, stewardship, and unity across generations, not just financial distribution.
What if my children aren’t involved in the family business?
It’s common for families to adjust their strategy depending on next-gen involvement. If heirs aren’t in the business, parents may limit direct ownership or include alternative roles through governance or philanthropy. The key is aligning roles with skill sets and interests.
How do I start building a generational wealth transfer plan?
Work with experienced advisors who understand both technical planning and family dynamics. At Prosperity Partners, we guide you through options that align with your goals, values, and family culture. Contact us to begin.