How to ensure successful wealth transfer

Estate planning and transferring wealth to the next generation are both a practical and emotional process. Often with children and inheritance the idea of when and how to give our money away can make us feel uneasy. It evokes various feelings and highlights our relationship with money, our children and ourselves. In today’s world, the complexities of estate planning require the consideration of many different aspects.

During this process, the emotional aspects – or the “soft issues” – of estate planning and wealth transfer are often pushed aside or overlooked. Dr Lami has observed the harmful side of it in her work with inheritors.

Prior to starting the process of estate planning, parents should consider the emotional aspects that are associated with it and will help ensure balancing your needs and your children’s.

Before you make a decision that could possibly hurt your children, please consult with Dr. Lami on how to best go about your estate planning.

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Resolving Conflicts & Disagreements

“In every conceivable manner, the family is a link to our past, a bridge to our future.” – Alex Haley

Families are uncomfortable talking about life challenges they may face. These can be emotional issues that need healing, differences that are hard to discuss, money matters or complex aspects surrounding their wealth. There are conscious and unconscious blockages that get in the way. These blockages create tension and inhibits parents, children and the following generations opening healthy and constructive dialogues between family members. Dr. Lami uses a process to help family members, individually and collectively, work through these challenges.

Bringing Families together

“Feelings of worth can flourish only in an atmosphere where individual differences are appreciated, mistakes are tolerated, communication is open, and rules are flexible – the kind of atmosphere that is found in a nurturing family.”  – Virginia Satir

Relationships between family members can be complex and emotionally charged. Bringing families together is what our family retreat can do!

Family members learn how to develop healthy communication skills and establish stronger relationships.

Preparing Your Children:
How to prepare the next generation for wealth transfer & wellbeing

“When wealth is lost matter is lost, when health is lost something is lost, when character is lost, all is lost.” – Billy Graham

Preparing children for successful wealth transfer does not happen overnight, it’s an educational and emotional process that takes time, and should be an integral part of parenting.

Research show that 95% of wealth loss is due to unprepared heirs, and only 5% of it is lost due to poor financial planning.

Therefore Dr. Lami developed her Pillars for Wealth Parenting ©. An educational process based on her PhD research findings that equip parents with the necessary knowledge and tools to facilitate a successful wealth transfer.

Dr. Lami believes that we all have relationships with money, whether we know it or not. In the face of our faster changing world, understanding our relationship with money and wealth and how it affects our emotional, mental and physical wellbeing as well as and peace of mind. Most of us have developed unhealthy relationship with money, which can sabotage feelings of happiness, as true happiness can’t be bought with money. Instead, happiness comes from nurturing our inner being, or our ‘inner wealth’. Some of the aspects that are covered during this process are:

• The meaning of wealth and its effect on individuals and the family
• Understand your relationship with money and its impacts on self and others
• How to guide Newcomers’ joining the family
• Understanding how to deal with money, wealth, and responsibilities
• Identify unhealthy or dysfunctional money behaviors and attitudes
• Heal unbalanced relationship with money
• Learn about family members money style & personality
• The impact of family history across generations

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• Successful wealth transfer and estate planning.
• Creating Educational Center for the next generations.
• Helping family members understand the complex psychologies behind their relationships with each other and with wealth.
• Helping individuals understand & accept responsibilities and roles.
• Dealing with family expectations across the generations Learning to accept each other’s views without arguments or conflicts.
• Improve relationships between family members.
• Women voice that matters and heard.
• How to handle board meetings discussions & AGM’s.
• Help with integrating newcomers to the family.
• Creating a guiding document or a system for generations to come & for people who join the family.
• Developing healthy parenting skills in wealthy families

For more information please get in touch here →