When life takes a left turn - and time and knowledge are in short supply - who’s in charge of your big picture? A case study in what it looks like to be a member of the Wambolt family.

Family wealth is about more than money. It’s about aspirations, expectations, values, and legacies. It can be an emotional topic, bringing out the best in some and the worst in others. And when wealth transfers hands, discord and conflict can irrupt in even the closest of families. An estimated $30 trillion will change hands over...

Seventy percent of wealthy families lose their wealth by the second generation, and 90% by the third. It’s time to buck the trend. Your offspring are likely hungry for information on good money-management skills from you or the financial advisor you use. Yet few teens and adult-children are asking for it, creating a fiscal divide...