PALO ALTO, CA, September 30, 2026 /24-7PressRelease/ — Conversations about the next generation often focus on succession, but Flora Dong believes an important stage comes before decisions about transferring responsibility or ownership.
Families first have to consider whether the next generation is ready to participate, what that participation should look like, and how much responsibility makes sense at a particular point in time.
Dong, Founder and Managing Partner of Ardenwood Advisors, has spent more than 25 years in wealth management. Her work has included families with multigenerational and international circumstances, where questions about family involvement can become more complicated as children grow into adults, establish careers, move to different countries, or develop priorities of their own.
“Succession can sound like a single event, but families may have many conversations before reaching that point,” Dong said. “There can be questions about what younger family members know, what they want to know, and what responsibilities they are prepared to take on. Those answers may also be different for each person.”
There Is No Universal Age for the Conversation
One question families may encounter is when younger family members should begin learning about financial matters.
Dong does not believe a single age applies to every family. Age is only one consideration. Maturity, interest, family circumstances, and the nature of the information being discussed may also influence when and how those conversations occur.
“There is a difference between helping someone understand the family’s broader financial structure and giving that person responsibility for making decisions,” Dong said. “Those steps do not necessarily have to happen at the same time.”
Early conversations, for example, may focus on the history of a family business, the purpose of a family foundation, or the responsibilities associated with shared assets. More detailed financial information may become relevant at another stage.
Dong believes it can be useful to think of involvement as something that develops over time rather than an all-or-nothing decision.
“You can have someone participate in a conversation without expecting that person to immediately take on a decision-making role,” she said. “Listening, asking questions, and understanding why certain structures exist can be part of the process.”
Siblings May Have Very Different Levels of Interest
Another challenge is that members of the same generation may not approach family financial matters in the same way.
One sibling may be deeply interested in a family business or investments. Another may have built an unrelated career and have little interest in participating regularly. A third may want to understand the family’s affairs without taking an active role.
Dong believes families should be cautious about interpreting those differences too quickly.
“Different levels of involvement do not necessarily tell you how much someone cares about the family,” she said. “People have different interests, skills, careers, and comfort levels. The difficult question is often how a family recognizes those differences while still being clear about responsibilities.”
Those conversations may become even more complicated when family members live in different countries. Geographic distance, different professional experiences, and exposure to different cultures can shape how family members think about ownership, responsibility, philanthropy, or the future of a family enterprise.
For internationally connected families, certain decisions may also involve legal or tax considerations across jurisdictions. Dong notes that those matters should be addressed with the appropriate legal and tax professionals.
Information and Responsibility Are Different Questions
Dong also distinguishes between transparency and responsibility. Providing a family member with information does not necessarily mean that person should immediately participate in every decision. Similarly, assigning responsibility without sufficient context may create its own challenges.
“I think families can ask two separate questions,” Dong said. “What does this person need to understand, and what is this person currently prepared to be responsible for? The answers may not be identical.”
This distinction can matter most when a family has a business, shared entities, philanthropic activities, or financial interests spanning several generations.
Rather than assuming every family member should eventually have the same role, families may need to consider how responsibilities could differ based on individual circumstances.
Readiness Can Change
Dong also cautions against treating a family member’s current level of interest as permanent. Someone who is uninterested in family financial discussions at 25 may become more engaged later in life. Another person who initially expects to participate in a family enterprise may ultimately choose a different career.
“People change, and families change,” Dong said. “A conversation that does not go very far today may look completely different five years from now. I think it is important to leave room for that.”
The same is true of the older generation. Founders and parents may discover that their own expectations change as they begin discussing responsibility more openly.
A parent who assumed a child would eventually enter the family business may learn that the child has different plans. A founder who expected to remain involved indefinitely may begin thinking differently about their own future role.
Those conversations can raise questions that extend beyond financial structures.
The Goal Is Not to Force an Answer
Dong believes one of the most important aspects of next-generation planning is recognizing that not every question requires an immediate answer.
Families may need time to determine what involvement means for them. They may also need input from different professional advisors depending on the financial, legal, tax, business, or governance issues involved.
“The purpose of these conversations is not necessarily to get everyone to the same conclusion,” Dong said. “Sometimes the first useful step is simply understanding where each person stands.”
For Dong, that is one reason she prefers to think about next-generation involvement in terms of readiness rather than simply succession.
Succession asks what happens next. Readiness asks whether the people involved understand the responsibilities, whether expectations have been discussed, and whether assumptions made by one generation are shared by the next.
“The next generation is not a single group with one personality or one set of goals,” Dong said. “They are individuals. Giving them room to ask questions and develop their own understanding can be an important part of the conversation.”
Important Disclosure
This commentary reflects the personal opinions, viewpoints and analyses of the Arden Global Family Offices employees providing such comments, and should not be regarded as a description of advisory services provided by Arden Global Family Offices or performance returns of any Arden Global Family Offices client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security.
Arden Global Family Offices manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
No advice may be rendered by Arden Global Family Offices unless a client service agreement is in place.
About Flora Dong
Flora Dong is the Founder and Managing Partner of Ardenwood Advisors, LLC, doing business as Arden Global Family Offices, an independent registered investment adviser based in Palo Alto, California. She has more than 25 years of experience in wealth management and works with individuals and families, including entrepreneurs, multigenerational families, and families with financial circumstances spanning multiple countries. Her professional perspective includes investment advisory services, wealth planning, family office matters, and coordination with clients’ legal, tax, and other professional advisors when appropriate.
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