Every family passing along wealth or control over assets to the next generation should have annual family meetings to review success. Clients with more than $1,000,000 of assets passing to charities or family members often need to review a variety of legal, tax, and investment issues. Professional help is often needed when communicating goals for transferring wealth to heirs or philanthropic causes. Communication is often most effective in family meetings that affirm family relationships and illustrate how discussions of technical planning details foster deeper relationships. Ideally, each family meeting should be led by an adviser who understands the family's relational dynamics as well as the technical issues related to transferring ownership, cash flow, control or management responsibility to the next generation.
- Develop a strong sense of
- Inspire each family member to
pursue a calling
- Establish clear leadership and
- Help family members understand
their responsibilities and
likely rewards related to
upholding the family's values
- Clarify how and when families should fund charities while maintaining permissible access to income from assets given to charity.
Does Your Legacy Plan Answer the Key Questions?
Dr. Robert Clinton studied 50 Biblical leaders, 100 historical leaders, and 1,150 contemporary leaders before concluding that less than 1 in 3 leaders finish well. What character qualities distinguish leaders who finish well? It is very interesting to see how Clinton's six conclusions parallel the conclusions in the Reflecting God's Character book available for free on this website. See the chart at ClintonEndnote or click below to download the book.
Below you can see 6 questions for every individual and each family. Answers to these questions are outlined throughout the pages of Reflecting God's Character. The book shows how wise advisers address spiritual and relational issues along with legal, financial, and other technical concerns as part of a holistic planning process.
Can You Answer These Six Questions?
Can Your family Answers These Six Questions?