Transferring and sustaining the family wealth

THE Chinese have a saying: "Wealth doesn't last three generations". To avoid such an outcome, families need to think strategically about inter-generational wealth transfer as much as they do about their businesses and investments.

The economic centre of gravity has been shifting back to Asia, and much of Asia's success is owed to a remarkable generation of entrepreneurs whose vision and hard work lifted them, their families and their societies out of poverty.

While these family leaders think about their businesses and investments strategically, when it comes to transferring wealth from one generation to another, the same commitment of time and effort to planning is often missing.