Wealth Transfer Is About More Than Just Money

Families have many forms of capital beyond their money. Here are five of them, plus ways to easily ‘transfer’ them to younger generations.

A big multigenerational family walks together in a park.
(Image credit: Getty Images)

Nearly every article on the Great Wealth Transfer discusses how the Silent Generation and Baby Boomers are poised to transfer about $84.4 trillion in assets through 2045, with $72.6 trillion going directly to heirs, according to Cerulli Associates.

But how the ultra-wealthy perceive wealth could have implications for others. Many goods and services, initially exclusive luxuries for the ultra-wealthy — such as electricity, indoor plumbing and refrigeration — are now taken for granted by the broader population. How the ultra-wealthy think about wealth today will shape how the broader world thinks about it tomorrow.

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Alex Kirby
CEO, Total Family Management (TFM)

Alex Kirby, Founder and CEO of Total Family Management, is a forward-thinking leader based in the Washington, D.C.-Baltimore area. He is a firm believer in the pivotal role that family plays in our lives. Under his guidance, TFM offers private virtual family coaching services and cutting-edge proprietary software designed to enhance family dynamics and social fitness. TFM is utilized by premier family offices, wealth firms and private families across the U.S. Throughout his career, Alex has been unwaveringly committed to people development, highlighting his dedication to empowering both individuals and families.