Rich families' wealth lost by second, third generations

A recent study finds the majority of rich families lose their wealth as it trickles down to both second- (70%) and third-generation (90%) heirs, reports Time.com.

This occurs because many families (64%) fail to share how they manage wealth with their children, says the study. And, most parents (78%) say they children aren’t financially responsible enough to handle large inheritances.

Read more on the study results.

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