Does your family know your wishes for your money after you’re gone? Putting it in a will is a great start but doesn’t go far enough. There is a way you can be clear about your wishes, help preserve family harmony, and increase the chances that your legacy will live on long after you. It’s called a family meeting. And here’s how we can help you with it:

Do you talk openly about money with your family? It can be a taboo topic for some, especially older generations. But if you plan to leave substantial assets to your heirs, it can be crucial to have open conversations about your wealth, when the time is right.

Think about it… when our kids are young, we should teach them the value of money, and the basics of spending and saving.  As they get older, we should be talking to them about the woes of credit card debt, the value of saving in a 401(K) and other investment options, gently guiding them and showing them how THEY should manage their money, while keeping our own finances private.  But when your kids are fully grown and you are getting older, it’s important to disclose more of your financial details so they aren’t caught off guard when something happens to you, and they know more about how you built your wealth and what you hope it can do for them after you’re gone.

This is where family meetings can be so valuable.  Your will and other estate planning documents are important for WHAT you’re passing down –money, assets, and property.

Open conversations can help your family understand your values, and WHY you made these decisions.  It can be eye-opening for them, AND help preserve family harmony.

We can help you set up family meetings with your loved ones – and set an agenda arounds what you’re comfortable sharing at that time, an nothing more. 

It’s helpful to at least cover:

Estate planning documents you have in place, a list of other professionals such as your CPA, Estate Planning Attorney, Insurance Agent and policies you might have, AND where other important information can be found later.

You might take a few hours to go to the dentist… Wouldn’t a few hours spent sharing your values and your wishes for your money, be worth the time?

Everyone’s family dynamic is different, and If you would like to discuss how a family meeting might benefit your situation, give us a call.

Want to learn more about our process?

Schedule a 15 minute introductory call so we can learn more about you, your financial goals and how we can best help you achieve them.