Center for Family Legacy resources

Learn three areas to consider when planning to finance a second home and how a Truist advisor can help you get one step closer to meeting your goals.

Learn how a wealth advisor can help you take advantage of recent growth in the luxury travel sector, and find opportunities for unique getaways.

Drew Egan, of the Truist Wealth Center for Family Legacy, talks with Oscarlyn Elder about the challenge that parents with wealth face in raising children to become independent, self-reliant adults.

Learn communication strategies to address differences in generational communication regarding technology, gratification, traditions, and generalizations.

Learn how the evolution of art as an asset class can help you expand your investment portfolio and connect your passions to your wealth strategy.

Learn five best practices to keep in mind when planning your estate to align with your family values and ensure a successful wealth transfer.

Learn tips to help you plan for a wealth transfer or build and preserve intergenerational wealth so you can feel more confident meeting long-term goals.

Learn the important role shared philanthropy can play in your family’s wealth plan to strengthen family cohesion and continuity across generations.

Learn five family governance best practices to help you manage your wealth transition with transparency and accountability.

Learn generational wealth mentorship strategies to boost financial literacy, help build your legacy, and set your family up for generational success.

Learn insights into family cohesiveness and how it can help you build family wealth and create a more seamless transition while strengthening your family bond.

Equip the next generation with core components of financial literacy to help ensure generational wealth preservation. Learn how to approach personal finances, investing, philanthropy and more.

Educating your next generation on career skills, entrepreneurship, and leadership provides them with a foundation that’s critical to success.

Successful wealth transfer is a process a long term process that does not end with a well crafted, tax efficient estate plan it begins there, and then grows through thoughtful communication among your family members about the estate planning intentions.

The odds of sustaining wealth across generations are as low as 30% with research showing that non financial circumstances have a far greater impact on the ultimate success of wealth transfer. Through collaboration with experts over the years, internal research, and our work with some of the world’s wealthiest families, we have identified 25 non financial best practices that we believe enhance a family’s ability to sustain their wealth across generations.

Emotions are common after inheriting stocks, bonds, property, and other assets. Here’s how to handle them and honor your loved one’s legacy

The first step to understanding your purpose, which can aid your financial plan, is knowing your values. See how to define your values using helpful resources.

A mission statement is the how-to for families that want to live their purpose. For it to be meaningful, everyone needs to participate in creating it.

Preparing for wealth transfer takes more than financial literacy—career education and exploring shared values also are important. It starts at a young age.

Sharing your family story with younger members is an important way to make sure the family’s purpose endures. Storytelling helps them understand.

You’ve got a far greater likelihood of achieving your financial goals when both partners are active participants in making important decisions. Find out how.

This article focuses on how providing opportunities for learning is a crucial component for success in multi generational wealth transfers. It discusses financial literacy and non financial topics like shared values, responsibility, life skills and communication.

Though the challenges to successful wealth transfer across generations may seem overwhelming, they can be overcome. Freedom within a Framework provides an outline for how families can educate and prepare their heirs for the opportunities and obstacles that lie ahead.

At Truist Wealth’s Center for Family Legacy, we believe a mission statement can also serve families of wealth, providing a similar, essential navigational tool.

This article explores the connection between money and relationships. We all have a relationship with money whether it is good or bad and neither is right or wrong. It is important for people to understand the pros, cons, implications and impact on each relationship due to money. We will dive into how to recognize these relationships and more importantly, the resulting effects.

Successful wealth management can be positive and transformative for those who benefit from the wealth.

Wealthy individuals often harbor negative feelings about their wealth: guilt, shame, or regret, but often these feelings are not discussed or acknowledged. Wealth transfer decisions made around these negative feelings can lead to resentment, dysfunction and conflict. To resolve these feelings, one must become truly aware of and accept them.

As with anything truly important, getting started with family philanthropy can be a daunting task. The following information is designed as a blueprint to help you begin this important work.

Women are more in control of financial management than ever, with the majority overseeing the day-to-day administration of their household finances. When it comes to long-term financial planning, however, there’s opportunity for women to be more actively.

Blended families have become more the rule than the exception, but with a little careful planning and a lot of communication you can prevent a lot of tension and hurt feelings down the road.

We at the Truist Wealth Center for Family Legacy address this issue regularly with our clients as they work to find the right balance of passing along wealth while also passing along the skills required to ensure their children become responsible inheritors and or beneficiaries as well as capable stewards of wealth.

Families of significant wealth often own a diverse mix of assets, including multiple residences, less liquid alternative or private equity investments, and valuable collectibles. This paper discusses 10 key factors that must be taken into account in order to create and maintain a flexible wealth management plan that reflects the family’s priorities and diverse mix of assets and balances risk, cost, and complexity.

The expression an elephant in the room has been around for decades if not longer. Readily recognized to mean an uncomfortable situation not talked about but clearly known to all. When elephants make unwanted appearances at dinners, parties, meetings people get uncomfortable and begin to shut down. Overtime, these actions may cause family relationships to erode. A family whose home is full of unwanted elephants can begin to turn things around. Become informed, open communication, know the key players and embrace the process.

This article provides 7 tips that might help you as you consider the best way to reach out to a loved one on this difficult topic.

A special needs trust is one planning option that can help with the financial challenges of caring for a loved one with a disability.

Transferring wealth requires a winning strategy, especially when it comes to tax and estate planning issues.

The road to financial freedom requires practice and discipline. Here are a few simple steps to aid you on your journey.

Communication is essential to the success of every interaction, whether personal or professional. That said, communicating effectively can be challenging even when the message appears simple. Layer in family dynamics and communication becomes exponentially more difficult. Effective communication is one of the key tenets to happy, healthy and thriving families that requires dedication and practice.

Research suggests that wealthy families would prefer to pass nearly two-thirds of their wealth to their children, grandchildren and other heirs.

This article provides readers an overview of the topic of family governance in addition to an approach of creating a system of family governance that has proven successful for many families. Written by GenSpring Director of Family Governance Daisy Medici and Family Wealth Advisor David Herritt, this white paper describes what we believe is one of the core elements of wealth management.

Exposing children to philanthropic endeavors is an excellent way of demonstrating family values and attaching meaning to money. Further, philanthropy often brings family members together and helps them celebrate their family history and legacy. This article details creative ideas for actively engaging the next generation in philanthropy.

Transferring wealth from one generation to another can be complicated.

Your family is what means the most to you, so estate planning needs to be an all-hands conversation.

Did you know that when it comes to your assets such as retirement accounts and life insurance passing down to your heirs outside of probate, beneficiary designations take absolute precedence over any and all provisions made in your Will?

An unexpected healthcare event requiring long-term care can quickly wipe out a sizable portion of assets. Instead of self-funding these expenses, you may want to consider purchasing insurance.

For more than 30 years, Truist Wealth’s Center for Family Legacy has focused on women and wealth, the unique set of values women bring to the various discussions surrounding wealth, and how and why these values form.

Planning and communicating are critical to the success of wealth transfer. Five simple steps can help guide you as you establish your plan and prepare your heirs for the eventual transfer of your estate."

Many families of wealth struggle with a fundamental question: Can our wealth be sustained across generations and have a positive impact on those who use it? GenSpring has identified a series of best practices for the successful transfer of multi generational wealth and believes that families who implement them can increase the odds of maintaining the wealth and reduce the likelihood of succumbing to the global phenomenon of shirtsleeves to shirtsleeves in three generations.