Family Wealth Planning

Whether it’s gathering for an annual reunion, recounting an anecdote about quirky Uncle Jim, or simply being there for one another during difficult times, family traditions are the comfort food that nourishes our most satisfying relationships. We’d like to invite you to begin a NEW and important family tradition: family wealth planning conversations.

What Are Family Wealth Planning Conversations (And Why Have Them)?

At their best, family wealth planning conversations engage your children, and other close family members, by each of you contributing your talents and interests in order to achieve your collective and personal lifetime and estate goals.

That’s not to say that everyone must participate equally. As we work with families, these conversations usually start with just a husband and wife, but it is often valuable to involve those who may one day benefit from your estate in these conversations.  During this conversation, you can communicate your desires for your future estate and possibly uncover ways to involve your family in seeing those goals realized during your lifetime. It’s also important to let everyone know who you’re designating to fulfill important roles within your estate plan.  These roles include:

  • Power of Attorney
  • Health Care Representative
  • Executor
  • Trustee
  • and Guardian.

Even if you and your spouse are in full agreement on who is best suited to champion your interests, there are always life’s many “what ifs.” Are others in your family adequately prepared to assume the stewardship role when and if it is required of them? Might they have unexpressed questions or concerns that are best addressed well before that day may arrive? Family wealth planning conversations are a time to hold those candid conversations.

Let Us Guide Your New Tradition

To kick off your family wealth planning conversation, we invite you and your family to meet with us at your convenience. (A face-to-face meeting is optimal, or we can harness technology to hold the meeting online.) We can guide you in exploring key considerations such as:

  • Who should take on the various roles and responsibilities in your family wealth planning?
  • Are each of you satisfied with the roles currently assigned?
  • Do all family members have the essential information, should they be required to increase their participation? (For example, do they know how to be in touch with us directly?)
  • Are there other questions, suggestions, or family wealth dynamics you’d like to explore, either immediately or over time?
  • How can Catalyze best assist each of you in these and other areas?

We encourage you to think outside the box on this! For example, even though your closest family members may have never joined us in prior meetings, we encourage you to include them at this time. You may well discover insights about one another that could strengthen both your financial conversations, as well as your overall family dynamics.

As tradition suggests, we also hope you’ll consider this the first in a recurring conversation — with or without our participation, as you prefer. Regardless of who may be “in charge” of your family wealth, you are equally as dependent on the outcome of the efforts. Enabling a forum for everyone’s voice to be heard is another way Catalyze helps you achieve your greatest life goals – keeping your family’s wealth fresh and meaningful over time.

Feel free to reach out to us if you’d like to get going right away.

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