Tuesday, February 18, 2014

Preparing Your Heirs

Wednesday March 19: 7:00 p.m.

According to Roy Williams and Vic Preisser in their book, Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values, studies show that 70% of heirs lose control of their inheritance within one generation and 93% within three generations. The loss of wealth is also often combined with a loss of pride, self-esteem, family harmony and productivity. In extreme cases, many wealth heirs turn to destructive behaviors such as substance abuse, loss of motivation and a culture of entitlement. Preparing Your Heirs will inform and educate parents on how to empower their children to lead independent, meaningful and purposeful lives. The program will present practical tools parents can deploy every day on how best to have those challenging conversations with family members and open up safe and productive channels of communication from one generation to the next.

AMIR MOSSANEN is a Senior Vice President and Wealth Advisor for Wells Fargo Private Bank and is responsible for understanding and managing the financial situations for high net worth clients. He specializes in multi-generational planning, family education and succession planning. He has authored papers on the multi-generational wealth transfer and developed family dynamics workshops to enhance harmony and effectiveness across generations. He is also the author of “The Giving Dilemma,” “Beating the Midas Curse,” and “Coping with Sudden Wealth Syndrome.” Prior to his career in wealth management, Amir was a management consultant working with Fortune 500 companies and government agencies on strategy creation and implementation. He earned a Masters in Business Administration with a specialization on Customer Focused Strategy and his MBA thesis on fixed income arbitrage was awarded a distinction for its unique insights.

Come to Crowell Library for an informative evening on the exceptional risks that children of affluence face and how best to mitigate those risks.