Americans have been living through a ‘golden age’ of estate planning, but it’s coming to an end, says one consultant to ultra-high-net-worth families and family offices.
The word “estate” has always been connected to “ultra-rich” families, those with a lot to leave behind after their death. However, definitions have changed, and anyone who has anything to leave behind needs to plan their estate. “Estate planning” essentially becomes your family’s guidebook, once you are no longer in the picture. Sounds important? Definitely, and here’s why.