The missing link in wealth building

AFTER years of paying off debt, establishing an emergency fund, growing investments, and planning for retirement, many people still overlook one critical step in building generational wealth — preserving the wealth they’ve worked so hard to accumulate.

“When people embark on asset accumulation, estate planning is the missing link,” said lawyer and CEO of Global Immigration Services Jamaica, Yanique Russell.

Speaking at the Caribbean Investment Showcase in Canada, Russell said generations of Caribbean families have spent decades building homes, businesses and investments, only for those assets to become tied up in disputes or depleted after death because no estate plan was in place. Quoting Proverbs 13:22, she reminded attendees that “a good man leaves an inheritance for his children’s children”.