Some families manage to sustain their wealth from generation to generation and one thing I found out is that they teach their kids how to create wealth rather bringing them up to be consumers only. When kinds knows what it takes to create wealth, they will appreciate the process and will not live wastefully. Conversely, I have also seen wealthy men who refused their wives and children from working for the reason that they have accumulated wealth and the duty of their wives and children is just to enjoy the wealth. These set of families usually run into problem when the key people die because the next generation could not keep the legacy.
That isn't as easy as it was in the past, though. I'm all in for what you've mentioned, teaching them how to invest and create wealth, but we need to be realistic; real estate isn't what it used to be. Prices have skyrocketed to unreachable levels for the average person; acquiring or building a house was something that was possible in previous generations for the average Joe. If the parents haven't managed to generate wealth themselves to pass on, it's almost impossible to start over in our current day and age.