By far, the greatest barriers to preserving family wealth are poor communication and failing to manage internal family conflicts. Developing strong active listening, communication, and de-stressing skills are vital for maintaining positive and healthy relationships. Identifying, addressing, and working towards eliminating factors that contribute to tension and conflict, especially when it comes to financial wealth, will help families focus on building values and goals that will alow them to thrive. Even the most close-knit families can benefit from having systems in place to guide decision-making.

Designing proper agreements is a powerful dispute prevention strategy. Agreements include buy and sell, lease, family constitution/charters, shareholder agreements, partnership arrangements, marital agreements, etc. These agreements are important tools for wealth preservation. 

A dispute prevention psyche helps to proactively develop and adopt processes and systems, such as governance structures, written investment policies or dispute resolution mechanisms, to foster intergenerational flexibility and resolve family challenges before they became un-resolving conflicts with financial consequences.