Multigenerational Wealth
According to Forbes, 90 percent of wealthy families lose their wealth within three generations. We are here to help you prepare your family for the responsibilities of good financial management, from developing a customized education program about being responsible wealth stewards to helping articulate your family’s unique story and the values you’d like to transfer along with your wealth. PROTECTION of your legacy and PREVENTION of erosion and loss are equally as important as wealth-building itself.
Wealth Transfer Planning
A well-crafted estate plan will serve as the legal framework that ensures your multigenerational family wealth planning will be executed, especially if you are no longer available to oversee your efforts come to fruition. It’s always helpful to work with a trusted professional to select an estate planning strategy that will best support your multigenerational family wealth planning.
Financial Literacy
One cannot expect our younger generation to know how to manage their inheritances in a healthy, responsible manner if we don’t impart any financial wisdom on them. We can help you invest time in providing your children and grandchildren with a financial education, starting with basics such as the principles of giving, saving, and spending. Practicing basic money principles in a safe environment as a child will help your future heirs develop sturdy financial habits in adulthood.
Investing in Your Children
For many families, the largest looming expense for children is college. Most parents want to set up their children for financial success, and one way is to prevent their need to take out student loans. Specialized college savings accounts that allow tax-advantaged contributions are a great way to start saving early. And, while we are not lawyers, we have experience with trusts and are always willing to help advise you on how they can provide financial support for your child's education.
