Succession Planning Among the Super Wealthy Ticks Up
The percentage of super wealthy families globally that has a will or estate plan in place inched up to 53% this year from 47% a year earlier, a new UBS survey of its family office clients shows, as a decadeslong transfer of wealth from older generations to their heirs picks up steam.
The increase is small but notable given the difficulties often associated with succession planning for the wealthy. Advisers to the wealthy say devising a wealth-transfer plan can require people to take stock of their mortality, develop a sense of the legacy they want to leave behind and also have a good understanding of the capabilities of any heirs.
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