NextGen Wealth

Before the wealth even arrives, families face their hardest decisions.

As families move past the second and third generation, estate planning gets more complicated. Family office experts explain how trust structures are being rethought, how coordination across generations is improving and why transparency matters more than ever.

Celine Fitzgerald didn't learn what her father's estate plan even meant until she turned 20 — and it left her rattled. Now helping run her family's office, she explains why bringing the next generation into the room early beats a jarring reveal later, and what families risk losing when they don't.

Families facing trustee succession often consider forming a private trust company — but the structure isn’t right for everyone. Experts say families must weigh goals, governance structure, staffing, cost and culture before moving forward.

Private trust companies are gaining traction as families seek smoother trustee succession and customized governance. A PTC blends institutional structure with family involvement, streamlining administration and consolidating decision-making across multiple trusts. While costs and barriers have declined, setup requires time and expense, making careful evaluation essential for each family’s needs.