The first rule of family money: you must talk about family money

Real conversations about wealth transfer from parents to children are a must – and they should be had in plenty of time

“To whom much was given, much will be expected” – Luke 12:48

According to some estimates, every three days an individual in Asia becomes a billionaire. This is an extraordinary statistic, but it is one that tells us a lot about the world as it is and about how it is developing.

The numbers of the ultra-wealthy - defined as individuals worth more than 30 million dollars - have increased in recent decades and this ...