The larger the assets, the larger the potential problems
The larger the assets, the larger the potential problems.
We have experienced going through some tough times with the people we work with especially when the person passes on.
Most of the assets that is being held is not liquid. Some examples of assets that are not liquid are properties and businesses.
And normally, these are converted to cash at the worst price and time in order to split the properties. And businesses are closed after many years of operations because the owner did not look into the details of succession.
And that is where you normally see the stories on the newspapers where the children and partners are trying to have a fair settlement over the assets, which usually does not turn out pretty.
The wealthier and senior a person gets, the more they have accumulated and the bigger the problem becomes.
If you know of a successful person or business owner with significant assets in the age range of between 40 to 65, highlight these potential risks to them.