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sharing wealth within a family can be one of lifes great joys and one of lifes great headaches how do families make their fortunes last for generations and how do they avoid conflicts about money in this wealth insights video we explain what family governance is and ways to keep families together in most families wealth does not last the first generation earns it their children churn it and then their grandchildren burn it this is more than a myth a research study of over 3 000 families over 20 years concluded that already in the second generation seven out of ten families lose their fortune by the third generation nine out of ten have squandered it wealth can also divide families which children or grandchildren should manage the family wealth when if ever should they hand over the family wealth to professional managers what about heirs who cant or wont or shouldnt join a family firm what do they do and how much should they inherit these issues often lead to stress and to conflic
