Half of Business Owners Do Not Want Their Children to Inherit, Run Business - Seite 2

Helping to move this success down through family lines tends to get trickier for some, though. Three out of four wealth creator parents (73%) believe they have succeeded in passing down their financial values, and (75%) feel they have done a good job raising their children to be financially successful on their own—yet almost half (44%) worry about their children not knowing how to build wealth of their own.

In line with wealth creators expressing concern about their children’s ability to build their own wealth, they also said they provide a good deal of financial support to their adult children, with four out of five (81%) saying they will bail them out of financial trouble. Although 88% of Gen X parents said they believe that wealth can ruin children (compared to 81% of respondents overall), nearly half (48%) acknowledge they tend to overdo it when it comes to giving things to their children (compared to 40% of respondents overall).

Most wealth creators help their adult children financially in multiple areas:

Education	80%
Cars	51%
Travel or vacations	46%
Ongoing expenses	35%
Healthcare	29%
Houses	27%
Grandchildren’s education	25%
Childcare	6%

Notably, parents who said they help their adult children with houses rises to 47% among those with $5 million or more in investable assets (compared to 27% of respondents overall).

And while a large majority (70%) want their children to live up to their family’s standards of wealth and success, nearly a third (30%) report it has been hard to transmit their work ethic to their children—and this is higher (40%) among Gen X parents.

“Family business owners may be tempted to transfer ownership as an incentive for family members to join the business,” said Bob Marshall, business growth strategy executive at Wells Fargo Bank, N.A. “While well intentioned, these transfers may lead to unintended consequences, especially if the family member does not have the required skills, engagement, or desire to take over the business.”