Podcast: Skills Needed for Successful Family Wealth Transfer

By Noah Rosenfarb
Published: October 6, 2014 | Last updated: March 21, 2024
Key Takeaways

Discover the problems that face families when transferring wealth and understand what you can do to make the process a smooth one.


In this podcast, Roy Williams, president of the Institute of Preparing Heirs and founder of The Williams Group, talks about:

  • The definition of wealth and how your family should perceive it;
  • The type of trust that cripples families and the wealth transfer process;
  • Quantitative and qualitative skills being taught at schools and the effect it is having on the current generation and their family successors;
  • Things you can do now to prepare yourself for your wealth transfer;
  • The role grandparents can play in the transfer of wealth, not just money;
  • Ways to leave your children your wealth outside of the usual methods; and
  • How defining children’s roles and cultivating interests and passions can lead to an easier hand-off process.

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About the Guest

Roy Williams is the acknowledged dean of Post-Transition© research and planning. He is a pioneer in the art of assisting high net worth families to meet the challenges of transferring wealth from one generation to the next.

Over the span of 20 years, Roy put together groundbreaking research on post-transition families and the issues relating to their wealth, with more than 3,000 families involved. In the 30 years after that, conclusions were drawn, further study was undertaken and Roy stamped his authority on the issue. His motivation was to help address his own issue of passing on his wealth to his children without destroying them.

Roy is the author or co-author of five highly acclaimed books on wealth transition-related topics. In 1995, Roy was privileged to speak before the House of Lords in London, and he has been quoted in “The International Herald Tribune” and “The Financial Times” regarding his work in the wealth-transfer field.


In 1994, he was awarded a doctorate (honoris causae) by CSPP (California School of Professional Psychology), the largest graduate school of professional psychology in the nation. The honor was given in recognition of Roy’s 30 years consulting with families on the crucial role of trust and communication in a successful family business and the transfer of wealth.

Also in 1994, in conjunction with Michael Morris, professor of the Miami University School of Business, Roy completed the largest research project to date on family wealth transfers, studying 3,250 families to determine why only one-third of the families succeeded in retaining their wealth and family harmony into the next generation.


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Written by Noah Rosenfarb

Noah Rosenfarb
Noah Rosenfarb, CPA/ABV/PFS has devoted his career to advising business owners on all things related to money. He is a Personal CFO and Holistic Wealth Coach at Freedom Business Advisors, which provides middle market business owners guidance on how to successfully transition out of the management and or ownership of their company. Mr. Rosenfarb is the author of EXIT: Healthy, Wealthy and Wise.

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