Parents risk losing generational wealth without preparing heirs — SAN

Senior Advocate of Nigeria, Osaro Eghobamieh, has cautioned parents against transferring businesses and properties to their children without proper preparation, as it could lead to the destruction of generational wealth. Speaking at the 18th anniversary celebration of Arise Women Conference, Eghobamieh emphasized the importance of involving children early in family businesses and financial decisions to ensure a smooth succession process.

He identified five essential forms of capital - spiritual, intellectual, social, human, and financial - required for successful wealth transfer and urged parents to instill values such as integrity, hard work, and discipline in their children from an early age.

Brief written by urgent.news from Punch Nigeria's own syndicated text. Machine-written — may contain errors; check the original before relying on it.