A new inheritance mindset that reveals more value to heirs

Some of the greatest wealth transfers are currently happening through inheritance. By viewing the concept of inheritance out of the money-asset-property framework, inheritors are able to gain a whole new wealth landscape, revealing a wider understanding of its value potential.
managing family inheritance

What you need to know

  • Viewing inheritance beyond ‘what we inherit when someone passes away,’ gives a wider scope of its value and potential.
  • Inheritance is an ongoing process, not an event. It includes the wealth of values, strengths, insights, traditions, culture and natural environment handed down to us by our parents and the previous generations.
  • Inheritance contains a composite value that includes both its tangible and intangible aspects. These dynamically complement each other and create more wealth for the heirs.
  • The value of one’s inheritance is defined by what one does with it, rather than how much was received.
Foresight Updated on October 21, 2022

The one-sided spectrum of managing family inheritance

One of the greatest wealth transfers in history is currently taking place and it is happening through inheritance. Gaining a deeper understanding of how wealth is transferred from one generation to another will help us better evaluate what is being received.

In a recent survey conducted in-house by the Inheritance Muse Consultancy, people were asked what they define as being inherited wealth. Over 90% answered, “What one gets, after a parent or relative dies”. Dictionaries follow along the same lines in defining inheritance as ‘the act of receiving, by legal succession or bequest objects, money, property, titles etc., following the previous owner’s death.’ In most cases, managing family inheritance is viewed as a once-off event and the transfer of tangible, measurable things. Although this description may be true, it does not give a whole view of what inheritance is or what it fully entails.

Factoring intangibles into the equation

To broaden the scope, one should consider the dictionary’s secondary definitions which state, ‘something from the past or from your family that affects the way you behave, look, and perceive the world.’ Here is where inheritance starts to get interesting.

About the Authors

Matina Agio

Matina Agio

Art & inheritance management

Matina Agio is an art and heritage consultant for family offices and ultra-high-net-worth individuals.

Connect with Matina Agio

Create your free account to continue reading this insight.

Join our community and become a Simple member today.
Not yet a member?

Sign up for a free account by clicking on the link below.

Register New Account