The purpose of the family meeting is to communicate openly, either in very general or specific terms, your current financial standing, your level of annual spending, and whether there might be a surplus that would pass to heirs at your death. You can also use this venue to express any desires, hopes, and dreams for how they might choose to use any money that may come to them at your passing.
Family Values
2 posts
Our advisors commonly assist in legacy planning, that is, the coordinated distribution of client or family wealth, to occur at the end of one’s life. While some seek to give all remaining wealth to their children, grandchildren, or other family members, others hope to give to their favorite charity or charities, and some simply wish to spend it all and “come in on fumes.” Planning for this wealth transition is an important task – one we should approach with considerable attention.