MyMoney Online, Make Money Mondays

How to effectively pass your wealth to your children (and their children)

(Click here for more articles from this "Make Money Mondays" feature.)

Generational wealth is an aspect of financial planning that is geared toward passing down stable, significant financial resources to future generations.

The Money Show’s Bruce Whitfield interviewed Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth, for his "Make Money Mondays" feature.

Scroll down for quotes from the audio below.

Money provides choice.

Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth

Money and inheritance may be distasteful topics to discuss, but having those conversation with your children is important.

Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth

We set out a plan so that wealth is smartly passed on from one generation to the next.

Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth

Understand your children; learn what drives them.

Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth

Your children should be custodians of your wealth not merely beneficiaries.

Jamey Lipschitz, Wealth Manager at Sanlam Private Wealth

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