When the Next Generation
Drives the Wealth Conversation
Sometimes it's not the parents but the adult children who initiate multigenerational wealth conversations. When a younger generation is about to gain access to significant assets, families benefit from a structured process to understand what they own, clarify responsibilities, and align decisions about property, trusts, and philanthropy with their values.
The Kids Are About to Step Into Significant Wealth
In many families, parents or grandparents are the ones who first drive multigenerational planning. In others, the catalyst is the younger generation — particularly when they are approaching the age at which they will gain access to substantial trust assets or ownership stakes in family properties or entities.
- What exactly are the assets they will be responsible for — across trusts, accounts, and jointly owned properties?
- Do they want to continue owning property together, including properties that involve employees and ongoing management?
- How do they want to approach giving and philanthropy as a family?
- How should they structure trusts and accounts for the next generation so their children are prepared, not overwhelmed?
A Younger Generation Steps Forward
In this family's case, the parents had already done considerable work to build assets and structure trusts, but it was the adult children who came to us as they approached the age of access. They recognized that they would soon face decisions about how to manage jointly owned properties, what role philanthropy should play, and how to think about trusts — not only for themselves, but for their own children.
Within the scope of our investment advisory relationship, we:
Built Asset Clarity
Helped the adult children build a clearer understanding of the assets and structures they would be inheriting — across trusts, investment accounts, and jointly owned properties.
Coordinated on Property Decisions
Worked alongside their legal and tax advisors as they evaluated whether to continue owning certain properties jointly or consider other options — recognizing those decisions involve considerations beyond investment management alone.
Managed During Evaluation
Assisted with the investment and financial management of the properties and accounts while the family evaluated their long-term choices with legal and tax counsel.
Established Next-Generation Trusts
Helped them establish trust accounts for the next generation and began a structured education process so their children could develop a realistic and healthy understanding of what money can — and cannot — do in their lives.
Served as a Sounding Board
Supported them on questions ranging from trust governance and distributions to how to talk about work ethic with children who have means — always within the scope of an investment advisory relationship.
This example is illustrative of the types of conversations we have and does not represent or guarantee any particular outcome for other families.
Love Is Real, but Money Complicates Things
Even in families where relationships are strong and values are aligned, significant shared wealth can create tension if expectations and responsibilities are not clearly discussed.
Property Disagreements
Different views among siblings about whether to keep or sell properties — especially when those properties require ongoing management or involve employees.
Unclear Philanthropic Expectations
Unclear expectations around philanthropic commitments — which causes to support, how decisions are made, and who has final say when values diverge.
Raising Children with Means
Concerns about how much to share with children and when, and how to balance providing for them with encouraging independence and work ethic.
What Does a Healthier Next-Generation Conversation Look Like?
Families often find it helpful to organize discussions around four key themes.
Clarity of Assets & Structures
Ensuring the rising generation understands what exists today — accounts, trusts, entities, and properties — and their roles and responsibilities with each.
Shared Principles & Priorities
Articulating what matters most: family cohesion, long-term stewardship, certain philanthropic goals, or specific commitments to the next generation.
Governance & Decision-Making
Defining how decisions will be made about shared assets and trusts, how disagreements will be addressed, and how information will be shared.
Education for the Next Generation
Introducing children and young adults to the family's approach gradually, with age-appropriate education about both the opportunities and limitations of wealth.
How We Support Rising-Generation Leaders of Family Wealth
When adult children drive the conversation, our work often centers on helping them move from uncertainty to a more organized understanding of what they are inheriting and what it means in practice. We focus on providing structure, context, and an investment and planning lens while coordinating with the family's legal, tax, and other advisors. Learn more about our investment management services.
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01
Consolidated Views of Trust and Investment Assets
So the rising generation can see and understand the whole picture — across trusts, investment accounts, and properties.
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02
Financial Management of Jointly Owned Properties
Assisting with the investment and financial aspects of jointly owned properties while the family evaluates long-term options with their legal and tax counsel.
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03
Investment Strategies for Trust Accounts
Helping design and implement investment strategies for trust accounts created for the next generation, aligned with the family's goals and time horizons.
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04
Education for Younger Family Members
Participating in education for younger family members so they develop a balanced view of wealth — including what money can support and what it cannot replace.
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05
Advisory Sounding Board
Serving as a sounding board on questions around trust distributions, work ethic, and philanthropy — always within the scope of an investment advisory relationship.
We do not provide legal or tax advice, and we do not promise any particular investment outcome. All investing involves risk, including the possible loss of principal.
Learn more about who we help.
Frequently Asked Questions
Ready to Navigate Your
Family's Wealth Transition?
If your family is preparing for the next generation to take on greater responsibility for wealth, we welcome a conversation about how we can support that transition.
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Compliance and Disclosure. Riggs Asset Management Company, Inc. ("Riggs") is a SEC-registered investment adviser located in Dallas, Pennsylvania. Registration does not imply a certain level of skill or training.
Investing involves risk, including the possible loss of principal, and no strategy can ensure success or protect against loss in declining markets. Examples and educational topics described here are illustrative and may not be appropriate for every investor or family situation. This content is for informational purposes only and is not intended as personalized investment, legal, or tax advice.