Lisa Snyder, a wealth management consultant with UBS Wealth Management Americas in Los Angeles, believes an important change in attitudes about estate planning happens in families whose assets exceed $30 million, especially among older clients who earned that money.
High-net-worth clients whose wealth is less than $30 million are generally concerned about avoiding paying taxes and avoiding probate court, Snyder says. But for ultrawealthy individuals with assets of more than $30 million, particularly as they get older, there is also a concern about what their legacy will be and about how their offspring are going to handle all the money they inherit.
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