Estate Planning With Us

Estate planning is often centered solely around creating the most efficient and tax-friendly ways to to transfer assets to heirs and doesn’t always consider whether heirs are actually ready to receive the assets. While we do support generating an efficient and tax-conscious plan, we believe that family dynamics play a much greater role in the successful transfer of an estate than most financial planners and estate planning attorneys previously understood. We believe that a successful transfer of wealth occurs when heirs receive assets in a manner that helps them foster their own development to achieve their goals in line with your family’s legacy, values, and wishes.

Assets and Resources

When reviewing and structuring an estate plan, we make it a priority to review multiple kinds of resources and assets you might have.

  • Liquid Investments or Near-Liquid Investments
  • Real Property, Business Ownerships and Entities
  • Family Values, Charitable or Spiritual Affiliations, and Community

Preparing Heirs

Too often the focus of an estate plan is solely on minimizing tax liability and ensuring a structured transfer of wealth to future generations. Our approach includes these key issues but also focuses on the process of preparing heirs for wealth. Wealth can be a blessing or a burden, depending on the situation. Our goal is to ease the potential of your wealth transfer to lead to unintended consequences while helping to foster an environment that supports your long-term goals and legacy wishes.

  • “70% of Estate Transfers do not survive the Second Generation” -Sloan Management Review
  • “Only 1/3 of family businesses successfully make a generational transition” -The Economist
  • “30% transition success in heir families” -The Williams Group

Staying Current

It is important to get an early start on planning your estate distribution and preparing your heirs; however, we understand that conditions often change. We establish a defined frequency, depending on your situation, to revisit your estate plan. As needed, we may involve outside family consultants and counselors, attorneys, and/or tax professionals in this process.

Concerns About the Next Generation

A US Trust survey of affluent Americans found the following concerns of families when it comes to the impact of money on their children:

Place Too Much Emphasis on Material Things: 65%

Naive About the Value of Money: 55%

Spend Beyond Their Means: 52%

Initiative Could be Ruined by Affluence: 50%

Won’t do as Well Financially: 49%

Lack Financial Responsibility: 42%

See US Trust Survey of Affluent Americans, XIX

Learn More

For more information about how to prepare your heirs to receive wealth effectively, fill out the contact form below.