remains the responsibility of parents to ensure the correct values are instilled in their children from an early age.”
work. It may also be valuable to engage children in discussions about how you have divided wealth and how investments work,” she said.
Marteen Michau, Head of Fiduciary and Tax at Sanlam Private Wealth, said the challenge for parents is preparing their children adequately to manage, sustain and grow family wealth.
“There is a need for different generations to hold a round-table discussion sharing stories, and agreeing on values and long-term goals in order to create a family manifesto so there is a clear wealth plan in place.”
Across generations, 25% of wealth is lost because heirs are unprepared to inherit. Sanlam Private Wealth is hoping that by highlighting the issues and telling real-life stories, it can open the discussion around wealth and help to improve the outcomes.
To meet Stanley, Nomfundo and their heirs, watch their bank vault experience and use an online tool to track your or your heirs’ own inheritance, visit www.thefamilyfortune. co.za This is sponsored content