PT  - JOURNAL ARTICLE
AU  - Fredda Herz Brown
AU  - Dennis T. Jaffe
TI  - Overcoming Entitlement and Raising Responsible<br/>Next Generation Family Members
AID  - 10.3905/jwm.2011.13.4.028
DP  - 2011 Jan 31
TA  - The Journal of Wealth Management
PG  - 28--33
VI  - 13
IP  - 4
4099  - https://pm-research.com/content/13/4/28.short
4100  - https://pm-research.com/content/13/4/28.full
AB  - Entitlement is viewed as a life-cycle task that all young adults must master. This concept embodies the expectations that the next generation have of their life based on what they received from their families. While all members of the next generation must learn to examine their expectations in terms of reality, this becomes an especially challenging task for those from wealthy families, where expectations can be higher. The authors suggest that in order to assist younger family members in dealing with this sense of entitlement, there needs to be a thoughtful and systematic approach to the process. They offer a model for thinking about the process and specific suggestions to deal with it.TOPIC: Wealth management