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.
{"ct":"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","iv":"0a99d698172762cce116451f9ad784bb","s":"eee33cfd8283f68a"}
Share your thoughts. Click here