There’s an old proverb — so old that it’s often attributed to the ancient Greeks — that goes something like this: “The wise plant trees whose shade they will never enjoy.” Whatever its provenance, the saying is an excellent summation of the mindset required to build multigenerational wealth. You might not see the full effect of the work you’re doing today, but subsequent generations will — and you’re providing a model for them to do the same for their heirs.

Imparting your values to your heirs — and to prepare them to do so for the next generation — is a long and ongoing process. To help in your journey, we’ve gathered three tips from investment professionals at Capital Group Private Client Services.

1. Family discussions can be the most worthwhile part of the planning process.

One of the most common concerns we hear is that family leaders and their heirs are on different pages. They often worry that they haven’t successfully shared their values, or that some of their heirs — particularly younger ones — might view wealth primarily as a source of creature comforts, rather than an engine for pursuing goals.

Family discussions can be a potent grounding force. They can be awkward — especially at first, as you push through any natural inclinations to avoid discussing family assets — but they give you an invaluable tool to share your philosophy and work ethic, and to demystify money.

Your goals should include helping heirs understand what’s at stake. That encompasses more than the property, securities and cash they might receive one day; it includes a vision and purpose for managing wealth and preparing them to one day pass that responsibility to their heirs.

If you’re finding it hard to enunciate your ideas and philosophies, start with how you’ve built and managed wealth. How did you nurture these holdings, and what lessons did you learn while doing so? What drove you to build wealth, and what do you hope to do with it? What role should your family play in the world, and how will money help accomplish that?

Regular meetings not only help inculcate your heirs with the importance of treating their eventual inheritance with respect and vision, it helps remind them that managing wealth is an ongoing process. Just as you’re doing with them now, they’ll need to one day continuously revisit their goals and choices — to live the management of their wealth, rather than to live off it.

2. Financial education is invaluable.

It can be easy to forget how daunting the world of finance is to a novice. Set aside the complexities of market volatility, yields and coupon rates — even basic concepts like building credit and living within a budget can be difficult for new investors.

Getting heirs up to speed on the fundamentals of responsible investing gives them a much better chance to intelligently manage funds later. Don’t be afraid to start with the absolute basics, says portfolio specialist Ed Gonzalez, who teaches classes in financial literacy for Capital Group Private Client Services and has worked with students at all levels.

“Sometimes, important concepts just haven’t been well communicated,” he says. “I’ve worked with smart people, including some with advanced degrees, who had never learned how to effectively budget or look up their credit score.”

Not only will new investors benefit from understanding the basics of market dynamics and portfolio allocation, they’ll also share a common language and a better grasp of the practical limits of wealth.

Critically, having an appropriate understanding isn’t the same as becoming an expert. Most investors don’t need to dive into financial minutiae. The basic concepts — making and sticking to a budget, understanding and taking steps to mitigate risk, and knowing the potential benefits of a long-term investment horizon — are enough. Their Private Wealth Advisor can provide guidance and help fill in the rest.

Finally, embrace experience. Successful or not, few things teach as well as a hands-on approach. Many would-be investors can benefit from having a small portfolio of their own to direct — perhaps a few thousand dollars set aside with a clear goal and a timeline. It’s one thing to discuss goals and to consider trade-offs in rarefied hypotheticals, but it’s another to see how that plays out in real time.

3. An impartial third party can help make hard decisions and maintain the peace.

Amid all the planning and considerations, it can be easy to forget that you can’t (and shouldn’t) do everything yourself. You probably already understand this for some things — it’s why you have a Private Wealth Advisor to guide you, as well as outside advisors to help you navigate legal and tax intricacies.

However, third parties bring another benefit: impartiality. An outside advisor won’t have the same familial history and connections. They’re not emotionally involved, so they’re better positioned to help you evaluate decisions from a neutral perspective.

That also means that they’re ideal candidates to handle delicate situations. By virtue of their impartiality, a neutral third party is more likely to be seen by family members as a fair arbiter. Thus, their pronouncements can help soften the blow of unpleasant news or limit interfamily tension.

And a neutral advisor can provide longevity. Corporate trustees can serve in the role for generations — as long as your trust exists — to faithfully execute your wishes. Capital Group Private Client Services provides corporate trustee services. Your Private Wealth Advisor can provide more details.