Future-proofing
your family's wealth

Where previous generations prized discipline, discretion and long-term preservation, many younger heirs are drawn to immediacy, experiences and visible success. For them, the focus is often less on building wealth and more on accessing it. The result? A growing tension between preservation and consumption.

So we must ask: are we truly preparing the next generation? Are we equipping them with the financial literacy, emotional intelligence and accountability needed not just to preserve wealth but also to grow and steward it for those who come after them? And are we dedicating the time now to ensure our estate planning strategies reflect the realities of tomorrow, not just the traditions of yesterday?

New pressures, new priorities

Estate planning remains the cornerstone of wealth management and family security. In the past, wealth transfer followed a relatively structured path – successors were often groomed to take over the family business, pursue a university education and adopt a conservative approach to growth.

But today, new generations are bringing with them new values, lifestyles and financial priorities. Many of our clients express concern about a growing sense of entitlement among their children, fuelled by the portrayal of wealth on social media. But the curated perfection of influencers – luxury brands, exotic holidays and expensive cars – often masks the real financial picture.

This leads to ‘wealth distortion’: a gap between the reality of responsible wealth management and the illusion of instant luxury. Long-term investing, saving and patience are increasingly seen as outdated – replaced by a culture of immediacy and external validation.

Yet these same platforms, when used wisely, can promote social responsibility, entrepreneurship, awareness of global issues and financial literacy. It all depends on how the next generation is guided. The question is: which version of wealth will your family legacy embody?

What research tells us

Recent research by the Society of Trust and Estate Practitioners (STEP) revealed trends that align with what we’re seeing across our client base:

• Financial security for future generations remains the top priority.
• Interest in social responsibility is growing – but still not widely acted on.
• Tax efficiency is still vital but is now seen through a lens of long-term planning and compliance, not avoidance.
• Misinformation about trusts and estate structures is widespread – clear education is urgently needed.
• Silence about wealth inside families is still the single biggest obstacle to meaningful succession planning.

In our experience, open dialogue, education and clear governance remain far more effective than secrecy or assumptions. Yet many clients still hesitate to disclose the full extent of their wealth to their children, fearing it will compromise privacy or lead to entitlement or ‘trust fund baby’ behaviour. The risk? A generation unprepared for the complexity of what they’ll receive.

How to build a lasting legacy

Successful generational wealth transfer depends on intentional planning and expert guidance. At Sanlam Private Wealth, we help families navigate the emotional and structural complexity of multigenerational wealth. This means addressing not only the numbers but also the values, relationships and conversations that give them meaning.

We begin with storytelling – where the family wealth creator shares the ‘why’ behind the wealth. This creates context, connection and perspective that numbers alone can’t provide.

Through our trustee training programme and bespoke family workshops, we help clients to:

• Define a shared mission rooted in core family values
• Establish open communication and accountability frameworks
• Build financial literacy and governance skills
• Instil a sense of stewardship, purpose and philanthropy
• Preserve the family’s entrepreneurial spirit and historical journey.

Starting the conversation

Generational wealth is more than the financial assets we leave behind – it’s the beliefs, principles and sense of responsibility we pass on. When families are equipped to have honest conversations, embrace education and plan with intention, they create something far more powerful than wealth: they create legacy.

For comprehensive guidance on estate planning and family legacy structures, contact Christine Bornman at christineb@privatewealth.sanlam.co.za.