Research
August 25, 2023
HNWIs that fail to prepare for generational wealth transfers could stand to lose up to 40 percent of their estates to taxable events. Image credit: Raymond James
By Zach James
HNWIs seeking the best outcomes for shifting capital to those next in line are being urged to speak up.
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