The Next Generation

Inheritance without preparation is a transfer of confusion. The assets arrive. The judgement required to live with them does not.

Families often postpone this work because it feels premature, or indelicate. It is neither. It is the difference between leaving a structure and leaving a surprise.

Responsibility is taught in small rooms: a first conversation about the family holding, a seat at a meeting with no vote, a modest philanthropic budget with a real deadline. Not a lecture. A practice.

The aim is not to produce professional investors. It is to produce adults who can inhabit wealth without being diminished by it — and without diminishing others.

If the next generation is only mentioned in the will, the work has been left too late. Documents follow people. They cannot replace them.

Written for general reflection. It is not advice, and it is not an invitation to invest.