Insuring Your Legacy

It is a safe bet to say that most owners of wealth intend for that wealth to pass from them to some other person or future generation after they are gone. This is known as an intergenerational legacy transfer. Structures such as Wills, gifts and trusts are put in place to make this possible and ensure that properties, both real and personal, go to the intended beneficiaries at the desired time. However, it seems paradoxical that most wealth owners pay more attention to the disposition of their assets, than to ensuring that the disposed assets actually reach their intended beneficiaries. The story of Chief and Mrs. Brown underscores the importance of insurance in intergenerational wealth management.