When and How to Start Talking to the Next Generation?

For many high-net-worth families, wealth is more than just financial, it’s about values, legacy, and responsibility. Yet, despite the best intentions, conversations about money across generations are often delayed or avoided altogether. Starting these discussions early, and doing so with clarity and purpose, can be one of the most powerful steps in preserving and growing family wealth over generations.

When is the Right Time?

There’s no perfect age or time to start these conversations, but the earlier, the better. Begin introducing financial concepts when children are young, simple lessons around saving, spending, and giving. As they grow into adulthood, gradually open the door to more complex topics such as investing, philanthropy, and the role of family structures like trusts or companies. The key is fostering open dialogue early, before a triggering event like an inheritance or crisis forces the issue.

What Should You Talk About?

Family wealth conversations should go beyond the numbers. Consider focusing on:

• Values and vision: What does wealth mean to your family? What are the responsibilities that come with it?
• Philanthropy and impact: Encourage a mindset of stewardship by involving the next generation in charitable giving decisions.
• Structures and strategy: Explain how family trusts, companies, or investment structures work, and why they’re in place.
• Expectations and education: Be clear about any roles or responsibilities your children may have in the family’s wealth strategy and support them with the tools and advice they need.

How to Start the Conversation

Start small and keep it informal. A family dinner, weekend getaway, or casual catch-up can be the perfect setting to gently introduce the topic. Lead with curiosity, for example ask your children what wealth means to them.

You don’t need to share every detail from day one. Instead, view it as a series of conversations that build over time. In many cases, bringing in an adviser can help mediate these discussions, offering structure and objectivity.

The Role of Your Adviser

An experienced wealth adviser can help tailor the conversation to your family’s values, dynamics, and structures. From education pathways for younger generations to succession planning strategies, having the right guidance ensures your legacy is not only preserved, but understood.

Final Thought:
Families who talk about wealth early and often, build not just financial resilience, but generational trust. The goal isn’t just passing down assets but passing on wisdom.

At Hewison Private Wealth we work with families to ensure inter generational wealth is protected and prospers.