It is important to keep in mind that in family dynasties, ultra-wealthy families share more than financial interests across generations; they also share values and goals. According to Cliff Oberlin, Chairman and CEO of Oberlin Wealth Partners and co-author of Family Fortunes: How Family Enterprises Thrive Across Generations,“These shared moral standards and objectives give family members a solid ongoing commitment to the family. For a family dynasty to exist, each generation must transfer the family fortune in one form or another, along with their core belief system, to subsequent generations. Having a well-formulated succession plan is essential to achieving both of these aims.”
