Generational wealth is one of the most concrete forms of legacy — and one of the most morally complex. It provides real advantage to those who receive it, which is precisely why its absence compounds over generations in ways that have nothing to do with effort or merit. The decision of how much wealth to pass forward, and in what form, and what values to transmit alongside it, is one of the more consequential examinations a wealthy person can undertake.
Each step builds on the last.