By Jennifer Pendergast of The Family Business Consulting Group, Inc. and guest contributor Bo Wilkins of Wilkins Insurance Group

Enterprise-owning families work for generations to build their wealth but most do not invest the time to plan for transferring it effectively. Preparing for transfer of assets can be a very daunting — and emotionally challenging — responsibility that often leads to inaction. Estate planning tends to be a reactive one or two time event. A successful wealth transfer plan should be a living and breathing one that is regularly reviewed and updated to meet the goals of the family.

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