In an Ausbiz interview, Kreston Leggett explains that effective intergenerational wealth transfer starts with clarity of purpose. Rather than beginning with financial solutions, families should first explore the why behind their decisions, what they value most, the legacy they want to create, and the outcomes they hope their wealth will support. As clients transition from accumulation to preservation, these values become central to choices around philanthropy, succession planning, and supporting the next generation.

Kreston highlights that many affluent families benefit from structuring their wealth into distinct “buckets,” each with a defined role, whether sustaining lifestyle, enabling philanthropic giving, or supporting family needs. But the greatest risk to legacy, he notes, is not market volatility; it’s the absence of communication. Open, ongoing dialogue ensures that expectations are clear, values are understood, and decisions reflect the family’s shared purpose. This communication is the foundation that allows wealth to endure across generations.