Success is a virtue you can pass on.

Among the works of fi ction often quoted in relation to passing down wealth, few are more prominent than William Shakespeare’s King Lear.

And with good reason. King Lear’s story strikes fear into every wealthy patriarch’s heart. Thinking that he is nearing the end of his productive life, the King disposes his estate among two of his three daughters, unmindful of warnings that he is doing so based on their feigned loyalty. What ensues is tragedy as the daughters reveal their true character. The King descends into madness,and dies in grief at all the treachery he witnessed.

While indeed a cautionary tale, King Lear also offers several lessons for succession and estate planning, and makes the case for the orderly distribution of inherited wealth. We are long past the time when successors’ first and only qualification is consanguinity or affinity; heirs are now asked much more if they are to succeed an empire and consequently are given the bigger challenge of proving that they are worthy of the responsibility.

We at BDO Private Bank understand the challenges faced by the next generation. That is why we tailor our solutions based on each client’s unique circumstances and specific objectives in wealth protection and distribution. We set out on our relationships with clients always with an eye on maintaining it for the long term. We grow with them as their needs change, so that when that day comes, they will be ready for whatever the world requires of them.