$124 trillion is transferring between generations by 2048. In the UK alone, £5.5 trillion is changing hands. And yet a 20-year research project on 3,200 families found that 70% of wealthy families lose their wealth by the second generation – and 90% by the third. The reason is almost never technical. It is not about investment selection or tax planning. It is about the conversations most families are actively avoiding. Here is what the ones beating those odds are doing differently.