Protect your legacy: family trusts under the spotlight
Wealthy parents are often concerned about the preservation of their hard-earned family fortunes by their children, and rightly so: research has shown that around 70% of young heirs end up failing as custodians or stewards of the family wealth, squandering it within five years of inheritance. We set out the reasons for this in an earlier article. Here, we recommend one way of protecting your legacy for generations to come: establishing a family trust.