Planning Perspectives

A look at life and finance from every angle.

From personal to professional, from family to financial, there are many facets to your life. Yet, each is interconnected. Planning Perspectives is a source of ideas and information to help you make the most of them all, all together.


Starting the Wealth Transfer Conversation

January 30, 2018 Estate, Life Events, Planning Well, Retirement, Taxes

Legacy planning is a chance to engage your spouse and heirs with deep, meaningful conversations about health, wealth and the future.

Successfully passing on wealth is complicated, both emotionally and practically, but the effort is worthwhile for the security of those you leave behind.

It’s not a strictly monetary process. The wealth transfer conversation is a chance to engage your spouse and heirs with deep, meaningful conversations about health, wealth and the future. It’s an opportunity to share your values with the ones you love, showing them how your wealth can support those values over decades, even centuries.

Raising Vital Questions

From a place of reflection, dig deep and unearth the questions you want your legacy planning to answer, using the ones listed below as a starting point. Like many, you may discover you don’t have all the answers. That’s okay – your team of professionals can help you find what you’re looking for.

What legacy would you like to leave and to whom? You should take into account non-financial topics such as your values, expectations, the roles your family members will play, and more.

  • Is your family prepared to manage their inherited assets?
  • If something happened to you tomorrow, is your family comfortable enough with your financial details to assemble a snapshot of your assets?
  • Do you have all the necessary documents in place and do your family members know where to find them?
  • Have you introduced your spouse and children to your advisors, including your financial advisor, estate planning attorney and accountant?
  • Have you created a comprehensive business succession plan?
  • What are your philanthropic intentions?

Wealth’s privileges and complexities deserve – even demand – thoughtful preparation and honest, ongoing family discussions. Work together with your advisor and other planning professionals to find fair answers to important questions, establish trust and open dialogue, and provide the gift of opportunity to those who matter most.