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":"01798478ad721bbc4d308a79d61baeaa","s":"5543e5b3682a9432"}
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