Out with the old traditions, and in with the new?
When it comes to succession planning, there’s a common idea that the first generation creates wealth, the second maintains it, and the third loses it. In this episode of 20 Conversations, Shreya Rao from Shreya Rao & Associates shares some unique stories on wealth preservation in India.
Behind her sharing, it all boils down to the fact that a wealth succession strategy will only work when the next generation’s personal goals are considered and if patriarchs are willing to listen – especially as traditions rapidly transform.
Shreya also hints at positive transformation in succession plans in India which are now involving more wives, daughters and extended families. This wasn’t the case a couple of years back.
Even outside of India, traditions are changing, and a family’s wealth succession plans have to adapt accordingly. Have a look at the trailer to hear Shreya’s stories!
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