Prepare your family for the future

There’s an old adage that says “Shirtsleeves to shirtsleeves in three generations” and most research indicates that’s true disturbingly often. This is likely due at least in part to a lack of preparation—a 2017 study by RBC Wealth Management found that 65% of inheritors were unprepared to inherit their wealth and 69% were never told how their benefactor wanted them to use the assets.

At the Wheelock Investment Group, we have worked with affluent families for over two decades, developing a series of key steps we can take to help preserve your wealth across generations. As our client, we can assist you and your family with:

Inter-generational and inheritance education

From the technical aspects of investing to the responsibilities that come with being a member of the family, we work with members of all ages and experience levels. This includes coaching younger or inexperienced family members about the necessary skills, competencies and responsibilities that come with wealth or even the sudden knowledge of wealth.

Family governance/family meetings

Assistance identifying, developing and nurturing the family’s intellectual, social and financial capital; facilitating family meetings; resolving conflict; managing transition and setting family/business strategy.

Family business owner solutions

Helping families create a succession plan that meets their personal and business goals, including the complexities associated with multi-generational business transition.

Philanthropy and legacy planning

Coordinating a strategic philanthropic plan that minimizes taxes and maximizes benefit to the causes and organizations that are most meaningful to you and your family.

Property/household management

Bill payment and coordination of vendors for primary and seasonal residences; buy-vs-lease calculations; product reviews/comparisons for major purchases; “what if” analysis for various scenarios/outcomes; guidance on major events like trips/retreats; and assistance with unique, awkward or delicate situations.

If you are interested in learning more about how our team can help your family prepare for the future, please contact us today.

Interested in trust services? 

Some of our clients worry that informing their heirs of their estate plan may lead to feelings of entitlement, a lack of motivation or isolation from their peers. They also worry of potential exposure to outsiders or that internal family conflict could arise from the disclosure.

Trusts can be an effective instrument in alleviating these concerns, as well as saving or deferring taxes, protecting assets, and avoiding probate. By handling trustee interactions for our clients, we can often improve the quality of services as well as the relationship between beneficiary and trustee.

If you want to discuss your portfolio or have financial questions, please fill out the below form.

To protect your privacy, we ask that you not send any confidential information, such as bank account numbers, credit card information or account details, through this contact us form.

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