We share the article by Ramón Alfonso about the heritage transmission and the formation of heirs that has appeared in recent weeks such as Rankia, La Razón, Telecinco, Radio Intereconomy, Onda Madrid, Funds Society or current leader.
More than 70% of families lose their richness in the second generation and 90% in the third. Patrimonial transmission is, more than an economic transfer, an educational and emotional challenge.
“The key is not how much it is inherited, but in how those who receive it are educated and prepared”, Says Ramón Alfonso, founding partner of Norz Patrimonia and director of the program ‘Investment strategies and heritage management ‘ in the prestigious ESADE Business School of the Ramón Llul University. For him, the goal is clear: Transform future heirs into responsible managers, with criteria, financial skills and sense of purpose.
This need is especially urgent if it is considered that More than 70% of families lose their richness in the second generation, and 90% in the third. Whether inheritance comes from a consolidated family tradition or a fortune built with effort and work, the heritage transmission is a great challenge. Not only does it imply the transfer of goods and assets, but also the continuity of a legacy that must be understood, valued and managed with responsibility to avoid its dilution.
“To ensure that the family legacy is maintained and grows over time, it is essential to establish a comprehensive plan that combines financial education, heritage training, strategic planning and an accompaniment close to the new generations. Only this can be formed capable, responsible and committed to the future of its heritage and their family,” says Alfonso.
Patrimonial formation for the new generation is essential to build a prosperous and sustainable future, where young people can make informed decisions about their heritage, value and protect their cultural heritage and contribute to the welfare of society.
5 fundamental pillars for an effective patrimonial transmission
The financial advice company Norz Patrimonia establishes five fundamental pillars to develop an effective action plan:
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Early patrimonial and financial education: It is sought that heirs understand the real value of money, the effort behind the creation of the heritage and how to manage it with criteria and responsibility. It is essential to convey that they are not only owners, but also guardians for future generations.
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Structured patrimonial planning: It implies defining clear rules on the management, transmission and use of family heritage. The elaboration of a family protocol is key to regulate the relationship between family, heritage and company. In addition, legal structures and clear instructions must be established to ensure efficient, protected and transparent succession. The creation of a family council or strategic committee can strengthen this management.
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Development of business mentality and responsibility: Independence, personal effort and the ability to generate own value are encouraged. To assume management roles in family heritage, it is necessary that the heirs receive external training and demonstrate professional experience outside the family environment.
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Family accompaniment and generational coaching: Beyond technical training, emotional and professional accompaniment is offered. The figure of a mentor, familiar or external, is key to guiding new generations. This process includes periodic evaluations to measure the preparation and maturity of the heirs.
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Transmission of values and family culture: Defining and sharing the mission, vision and values of the family is vital to maintain cohesion and the sense of purpose that support the legacy.
When the legacy is in danger, how does it recover?
“It is not uncommon to see families that, after only one or two generations, lose much of the heritage built for decades for lack of preparation and vision,” explains Ramón Alfonso. “We have accompanied many families where the heirs, without adequate training, have made hasty decisions or waste resources, putting the family legacy at risk. Thanks to the implementation of our personalized financial plans of financial education, planning and accompaniment, these families have managed to redirect their strategy, recovering control and ensuring the long -term heritage stability,” says the partner of Norz de Norz Patrimonia.
Protect heritage and ensure stability
Norz Patrimonia develops personalized action plans for each family, adapting to their particularities, needs and objectives. These plans include: comprehensive heritage diagnosis, adapted training design, continuous accompaniment and establishment of family protocols.
According to Ramón Alfonso, “Investing in a personalized action plan is not only to protect an economic heritage, but also to ensure the stability and continuity of the family legacy. Appropriate education and accompaniment avoid future conflicts, strengthen the family bond and prepare new generations to make responsible and conscious decisions that preserve the value created for decades. ”
These plans include:
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Comprehensive diagnosis of the heritage situation, family dynamics and level of preparation of the heirs, including assets, legal structures, risks and forecasts.
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Design and implementation of a personalized training plan, which can cover finance, investment, taxation, business management, ethics and philanthropy.
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Continuous training and accompaniment in the practical application of knowledge.
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Support in the implementation of family government, family protocol and control systems.
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Constant evaluation to measure results, make adjustments and ensure generational continuity.
Norz Patrimonia’s experience confirms that The conservation of the family legacy in success does not depend solely on the inherited amount, but above all on how those who receive it are educated and prepared. True wealth lies in training people with criteria, responsibility, financial skills and a deep sense of purpose. Without this base, wealth becomes more a burden than in one occasion.
Patrimonial planning and accompaniment to new generations are, therefore, keys to creating trained, committed and emotionally prepared heirs to manage, preserve and grow family heritage with a long -term vision.
Transcribed from Rankia’s digital edition.