The old expression of 'If you fail to plan, you are planning to fail!' rings true even for very wealthy families when it comes to passing on their assets. This need not be the most complicated process but as withe everything an open dialogue sooner rather than later with all involved can save a huge amount of heartache later on. Have you reviewed what would happen to your wealth recently?
the biggest mistake high-net worth individuals made was not to have a transfer plan in place at all. Without a plan the state where the person was living determined who received the deceased’s assets as well as at what percentage.