Services
Imagine an approach that asks a question traditional estate planning does not ask:
"How do you pass on that which has brought you both happiness and success?"
Guiding Living Legacies
At Legacy Wealth Counselors, we conduct a unique six step experience called The Heritage Process™, a program designed to help families successfully pass their values, as well as their wealth, to the next generation.
Traditional planning often fails because the plan is not cemented with the values that shaped the success. Such a plan cannot not long survive one’s passing.
When the founders who built the family wealth pass only their financial assets to their heirs, excluding the values, faith, traditions and work ethic that helped them build that success, it is a good bet their children and grandchildren will see the family fortune dissolve.
Financial Behaviorists have come to call this condition Affluenza. We call it avoidable.
The Heritage Process™
Initial Presentation
Typically, the concept of The Heritage Process™ is first presented to a family through either a formal presentation or an informal discussion.
Guided Discovery Process
From personal interviews and questionnaire sessions with you and your family members, we identify the foundational values, objectives and dreams that have meaning to your family.
Vision Statement & Family Governance
With core values identified, we are ready to help you construct your Family Vision Statement. This living document is designed to help guide your family members now in their pursuit of responsible, meaningful work and philanthropy, and to light the path for generations.
Team Planning & Implementation
We use our Family Portfolio to organize and review your existing planning documents and to evaluate how your existing planning reflects and supports the core legacy values you have defined. Then, we develop comprehensive financial and estate plans supporting your Family Vision Statement. Often, in order to implement those plans, a unique Family Charter is established. It creates a Family Council or other family organization, with provisions for operation from generation to generation.
Family Retreat
Some families choose to hold a Family Retreat, where family business, fun and the future development of the family can be discussed in a relaxed setting. This is often where your Family Vision Statement is unveiled for the first time, and where the real impact of having created a cross-generational legacy plan becomes clear. For many families, the retreat is a tremendously powerful experience.
Ongoing Family Council
With the creation of the Family Vision Statement and the establishment of the Family Charter, the process of ongoing Legacy Planning, implementation, management and review begins. Upon request, we will provide guidance and act as advocates to clients in assuring their vision is communicated to existing financial and legal advisors.
