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I doubt any sufficiently wealthy family "inherits" anything, the owning is done by a trust or company with obscured cross-border ownership. Inheritance is for
by noja 6y ago
I doubt any sufficiently wealthy family "inherits" anything, the owning is done by a trust or company with obscured cross-border ownership.
Inheritance is for the rest of us.
- elliekelly 6y agoIndeed. This is why I also take issue with the “wealth is lost in three generations” line that’s often repeated. When I worked for a Bank & Trust Company we had a lot of clients who were “broke” on paper but had a substantial trust (controlled by the bank) that paid for just about every conceivable expense.