There are several matters you may want to consider when thinking about legacy planning:
Security for family and friends
Family bank (dynasty trust)
Planning for incapacity
Children of a previous marriage
Family means different things to different people. We’d like to know what it means to you.
In addition to intergenerational planning, we like to meet with all the members of your family to help ensure that everybody is clear about the financial goals and understands the strategies we will use to pursue those goals. Some families find it difficult to discuss money with their children, but we can help you overcome this reluctance and improve communication, knowledge, and understanding. It is important for us to talk to your children and beneficiaries about their roles and responsibilities—to work through budgeting issues and to review the locations of important documents.
Wealth management is defined as the ability to protect, preserve, accumulate, and transfer wealth in a cost-effective, tax-efficient manner. We’d like to add three words to that definition: for your family. Financial planning doesn’t have to cross generational boundaries. We just think that you deserve it.
Letter to widows/widowers
Commonwealth Financial Network® and The Wealth Transition Collective’ do not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.