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The oldest members of the Baby Boom generation have started to retire. Because of that, the United States is now in the midst of the biggest transfer of wealth from one generation to another that the country has ever seen. But according to Barclays Wealth Insights, history has shown that 70% of family wealth fails to transfer to the third generation. One of the main causes of this failure is not preparing your heirs to appreciate and properly manage your estate; to be aware of the history behind it and to share in a family vision that will shape their stewardship of your family wealth moving forward.

In this episode, podcast host, personal historian, video biographer, and Family Legacy Video, Inc. president Steve Pender is joined by personal historian and author Stephanie Kadel Taras, Ph.D. They share some real life examples of how their high net worth clients used life story legacies, in both video and print formats, as communication tools to pass along their values and visions surrounding family wealth to the next generations of their families.

Stephanie is an author and personal historian. She lives in Ann Arbor, Michigan. She started her company, TimePieces Personal Biographies, in the year 2000. Stephanie works with clients who want to tell their own stories, hire a writer to work with family members, or document their organization’s history. Her 2013 memoir and social history of West Virginia, titled Mountain Girls, won a West Virginia Writers Book Award. Her 2008 history of Eckerd College won an Independent Publisher Book Award.