What actually causes families to lose generational wealth if it's not taxes?

Studies suggest over 90 percent of generational wealth transfer failures have nothing to do with taxes, governance structures, or investment performance. The real causes are emotional and relational. Communication breakdowns. Distrust between generations. Heirs who were never prepared for what they inherited. No shared sense of what the wealth was for. Kris Kluver, in The Dysfunctional Family Office, writes that the failure is rarely financial in origin. Money disappears because the family never had clarity about purpose, direction, or intent. The advisors built the legal frameworks. The family carried the emotional ones. Almost nobody built a bridge between the two. Most families realize this only after the second-generation handoff has already gone wrong.