Summary In this episode, Adam and Steve discuss the concept of generational wealth and how it applies to business owners. They explore the challenges of creating and preserving generational wealth, including the failure rates of business transfers to the second and third generations. They emphasize the importance of proper planning, including having a financial advisor, tax planner, and estate attorney, as well as a transition process in place. They also discuss the idea of legacy planning and the various components involved in creating a successful exit and preserving wealth for future generations. Chapters 00:00 Understanding Generational Wealth 09:44 Challenges of Creating and Preserving Wealth 14:19 The Role of Planning and Professional Advisors 16:09 The Importance of a Transition Process Episode Links: Sign up for our BusinessBuilder Thursday weekly guide - www.scaletosell.com Get a FREE professional valuation of your business - https://www.scaletosell.com/discovery    Follow the podcast so you never miss an episode. Please rate and review the podcast so more entrepreneurs can find this valuable content to scale and exit their businesses.   IG: @scaletosell FB: @scaletosell Youtube: @scaletosell LI: @scaletosell

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