Sunday, March 4, 2012

Worry Rises over Wealth's Power to Harm Its Heirs.

Byline: Ruthie Ackerman

The recession has been a wake-up call for the well-to-do, many of whom came to realize that great responsibility should accompany great wealth, according to research by PNC Financial Services Group Inc.

A rising number of high-net-worth people, including Warren Buffett and Bill Gates, seem to be taking the Andrew Carnegie view: that there is only so much money that one family needs and that bequeathing huge sums to the next generation can be dangerous.

PNC's wealth management division released a survey last week saying that wealthy Americans have become significantly more concerned in the past two years that their children are …

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