Engage in wise estate planning
Over the next two decades, billionaires in the 70+ age group could transfer $2.4 trillion to their heirs and charities. Billionaires recognize that succession planning is getting more complex due to stringent tax codes and increased regulation.
It is wise to look ahead and create a solid estate plan for wealth transfer and utilize it for the growth of the next generation even if you are not a billionaire.
It is also wise to look at your children – are they ready to be worth that much money? Should be they be given that much money? Or should most of your worth be given to charity?