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.

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...