Statistics provided by Nathan Dungan of Share, Save, Spend show that, when high-net-worth individuals leave the majority of their wealth to their children without restriction, that wealth often evaporates by the third generation. Those statistics change when charity is part of the planning process.
Dungan will address what he calls the wealth transfer dilemma in a presentation for attorneys, accountants, financial advisors and other professionals advising families and individuals, sponsored by the Community Foundation. The Oct. 6 session starts at 7:30 a.m. in the Community Room at Sirote & Permutt, 2311 Highland Avenue. Contact Lora Terry to register, at a cost of $15.
Dungan asks advisors to consider ways to engage, educate and equip clients across generations and take on the challenge of helping them develop healthy money habits. As he says, “The choices we make with our money can change the world.”
Find out more about Dungan on the Share Save Spend website. If you are a Community Foundation donor, you also are eligible to attend a separate invitation-only event for grandparents, parents and children. Find out more by contacting Kathryn Corey.