Structuring and reaching your legacy goals
Our report explores how affluent people across Europe, Africa and the Middle East interpret legacy and how it is shaped by wealth decisions throughout a lifetime. It reveals insights on the paths taken to prosperity, the impact of investment decisions, the challenges faced and the continuous evolution of legacy objectives to achieve inheritance goals. Read the report below to discover more.
New research by the European arm of Standard Chartered Private Bank explores how affluent people interpret legacy and some of the challenges they encounter in achieving their inheritance goals. By definition, legacy means something left behind to someone by another person in the final part of their life, usually in the form of money or property. Or, it represents something such as a tradition or situation that exists as a result of something that happened in the past. The findings reveal whether legacy has taken on a modern concept for the wealthy.
Key findings include:
82% believe that the most important legacy they can leave is to support future generations of their family
74% want to use their wealth to drive wider positive change
79% have a relatively clear idea about the legacy they want to leave, but there are uncertainties on how best to achieve this
69% said they are concerned that their successors might try to use the inheritance in a different way than they had intended
76% want a structure that will enable them and their family members to continue developing their philanthropic objectives over time
81% are keen to establish a structure that will enable their personal assets to grow across more than one generation