With a world-wide transfer of $16 trillion by ultra-high-net-worth individuals expected over the next 30 years, tax and succession planning is crucial for these families. A large chunk of this wealth, $6 trillion, is currently held in private businesses. Many expected heirs of these businesses are not expected to take over management and control, which will likely result in many businesses being sold or going public.
See PW Staff, Rich Families Set to Transfer $16 Trillion, Private Wealth, Jan. 16, 2015.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
