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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","iv":"55778f5f9369baf8162e99ec526cb119","s":"e4882adf82808672"}
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