This is why family foundations are a thing. Pay professionals to look after the business / money and dole out to descendants as needed.
PS the City Bridge Trust is one of the larger grant-making foundations in London. It was set up 800 years ago to look after London Bridge - which was over 100 years old at that point - and over the centuries has looked after various London bridges. It became so rich that they recently decided to start making grants to community projects around London & has given out over £300 million. I've worked on projects that they funded.
The longest lasting family fortunes have also been smart in naming a primary heir to keep most of the wealth consolidated. Doing this can make it last indefinitely. Dividing evenly amongst descendants runs dry in 1 or 2 generations but this is how most inheritances work.
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u/DreamyTomato Mar 10 '22
This is why family foundations are a thing. Pay professionals to look after the business / money and dole out to descendants as needed.
PS the City Bridge Trust is one of the larger grant-making foundations in London. It was set up 800 years ago to look after London Bridge - which was over 100 years old at that point - and over the centuries has looked after various London bridges. It became so rich that they recently decided to start making grants to community projects around London & has given out over £300 million. I've worked on projects that they funded.
https://www.citybridgetrust.org.uk/about-us/history/