May 1, 2026
For the Wealth Group at Union Savings Bank, generational wealth is about far more than the financial assets passed from one generation to the next. The intangible resources, family values, education, and the stewardship of what’s been built, are equally important to preserving a lasting legacy. That work, however, is rarely simple. Complex family structures, competing inheritance expectations, and the challenge of dividing a family business can all create conflict. Even decisions like naming an executor or trustee can prove more difficult than families anticipate. The foundation of any successful wealth transition, the team says, is open communication, early and often.
How do you navigate sensitive conversations about inheritance and legacy?
Communication is key, with a focus on sharing family values rather than merely discussing balance sheets. A wealth advisor and estate planning attorney can help facilitate these conversations. Sharing family stories about wealth and philanthropic goals in group settings or through oneon- one conversations is a great start. One unique advantage we offer is the ability for Union Savings Bank to serve as a corporate fiduciary. Naming Union Savings Bank in this role removes the burden from family members who may not have the time or expertise, and helps preserve harmony and objectivity within the family.
How do you prepare the next generation to manage wealth responsibly?
Having a plan is essential. This includes not only education, but everyday experiences through mentorship programs or philanthropic activities. Introducing heirs to advisor relationships and providing hands-on management experience is critical to a successful transition.
How has the concept of legacy evolved among your clients?
For both family businesses and personal wealth, legacy has shifted as social media and AI have changed the way we work. In today’s environment, blending traditional values with modern business strategies is essential to building something lasting.
What are the key components of a strong wealth transfer strategy?
Establishing clear goals is the first step. Professional guidance is crucial in creating an estate plan with all the proper documents. Naming beneficiaries on accounts such as IRAs and life insurance contracts ensures a seamless transfer, while tax planning and investment management preserve and grow wealth.
How do you tailor planning for multi-generational families?
By creating a plan that addresses individual needs while supporting the family’s legacy as a whole— protecting assets, minimizing tax exposure, planning for today’s cash needs, and building a charitable giving legacy that aligns with the family’s values.
What misconceptions exist about estate planning?
That it is only for older, wealthy individuals. Regardless of age or estate size, a comprehensive plan matters for everyone. While a will is critical, incapacity planning, healthcare directives, end-of-life wishes, and tax minimization should not be overlooked. Beyond finances, how do you help clients define what values their wealth carries forward? There has been a meaningful shift from strict technical planning to a more value-driven approach. By aligning financial advice with a client’s core values, we can create a more purposeful generational wealth plan; one with a clear vision, mission, and governance structure.
To receive a complimentary copy of The Wealth Group at Union Savings Bank ’s Guide to Generational Wealth, contact them directly at 860-567-6411. For a full list of team members titles, and insights, visit unionsavings.com/wealth
