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15. Family Wealth Statement
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Based on Family Retreat and Questionnaire
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Clarifies family goals
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Documents preferences for transferring wealth to heirs
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Establishes charitable giving intentions
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Guides advisors |
Our wealth counselors seek to clarify the client's goals and current financial situation. If the client already has all necessary information to provide necessary clarity, we can simply prepare a Value Proposition Letter (explained later). If the client and his or her spouse or family members have not yet clarified goals, then we offer to prepare a Family Wealth Statement. The Wealth Adviser can develop this document after having both the husband and wife answer about 55 questions and then sit down with us for 4 to 8 hours to agree on their answers to the questions. If the client and his/her spouse or other family members have not yet agreed on clear goals for using their wealth, we can help them develop answers to key questions, such as the following:
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Do you know when and how your children should receive wealth that you want to transfer to them?
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What portion of your tax money would you rather redirect to your family foundation if this will not reduce wealth available for your family?
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Do you have a plan for funding your favorite charities through your family foundation? |
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