Wealth planning across three generations.

The technical side

The technical structures are well-known: revocable and irrevocable trusts, generation-skipping transfer (GST) planning, dynasty trusts in favorable jurisdictions, family limited partnerships, intra-family loans, GRATs. Each has its place in specific situations.

Coordinated planning ensures the structures match the actual investment plan and the family's actual circumstances — rather than being driven by the structure-of-the-month at any particular planning firm.

The human side

The technical side is the easier part. The harder part: preparing heirs to be effective stewards of what they'll inherit. Research from the Williams Group on family wealth transitions famously found that 70% of family wealth is lost by the second generation and 90% by the third. The cause is rarely the technical structures — it's breakdowns in family communication, lack of preparation of the next generation, and absence of shared values around the wealth.

Next-generation engagement

The most effective multi-generational planning brings the next generation INTO the planning conversation gradually, well before they would otherwise inherit. Specifically:

• Annual family meetings where the planning framework (not necessarily every dollar) is reviewed
• Increasing financial education for the heirs starting in their 20s
• Defined onboarding when an heir reaches an age where they're ready to participate
• Optional participation in the family's charitable giving as a learning ground

These conversations are often the hardest to start. They're also often the highest-value work a wealth-management relationship does.

Family governance documents

Beyond the legal trust documents, many HNW families benefit from a "family governance" document that captures the values, intentions, and decision-making framework around the wealth. This is not a legal document — it's a family-cohesion document. It often includes the family's charitable intent, principles for handling business transitions, and the framework for how disagreements between heirs should be resolved.

Coordinating the multi-generational team

By definition, multi-generational planning involves multiple advisers across multiple relationships. The current-generation family adviser, the next-gen's adviser (often different), the estate attorney, the CPA, sometimes a family-business consultant. Premier's role is often to be the continuity layer that maintains the through-line as generations transition and other advisers change.

For Premier's related service, see Estate & Wealth Transfer.