Research
August 25, 2023
HNWIs that fail to prepare for generational wealth transfers could stand to lose up to 40 percent of their estates to taxable events. Image credit: Raymond James
By Zach James
HNWIs seeking the best outcomes for shifting capital to those next in line are being urged to speak up.
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