Breadcrumbs

Creating your family vision

Below is a hypothetical example of how we create a unique family vision for every client. That vision both guides our recommendations and helps you judge our performance. For “John and Jane Doe”, it began with the overarching agreement to “develop a customized approach to managing our wealth that we are comfortable with and allows us to enjoy our lives.” From that, we write, together, simply stated yet unique goals. All the reporting we provide maps back to at least one, if not several, of those objectives.

Sample of a Family’s Progress Toward Their Vision

  • GOAL
    Provide for our lifestyle of approximately $3 million per year for the rest of our lives such that we do not have to worry about market fluctuations
  • completed
    Perform year end trust distribution analysis to save appr. $25,000 per year
  • completed
    John and Jane maintain a lifestyle security ratio below 2%
  • completed
    Renegotiated line of credit to save appr. $50,000 per year
  • still to do
    Ongoing review of lifestyle portfolio allocation and analysis
  • GOAL
    Provide some assets to our children, and to a lesser extent our grandchildren, during our lives in a tax favorable manner
  • completed
    Moved appr. $11 million outside taxable estate with GRAT
  • completed
    Ongoing Assessment of Legacy to Heirs
  • completed
    Ongoing Financial Education Sessions with Children
  • Completed
    Recommendation and Implementation of Real Estate Trust for Children
  • still to do
    Evaluate Business Holdings and Illiquid Investments for Opportunity to transfer at Reduced Valuation
  • GOAL
    At death, maximize assets passing to our children, while providing additional support to our grandchildren
  • completed
    Moved appreciation on $11 million of assets outside taxable estate
  • completed
    Ongoing Assessment of Legacy to Heirs
  • completed
    Life Insurance Portofolio Restructured to Achieve Higher Benefit with Reduced Premium
  • still to do
    Evaluate Business Holdings and Illiquid Investments for Opportunity to transfer at Reduced Valuation
  • GOAL
    Begin developing our family foundation and involving our children and grandchildren in its mission
  • completed
    Created a $5 million foundation with a net after-tax contribution of $2 million
  • completed
    Created Board of Directors and process for family management of Foundation
  • still to do
    Charitable Trust will provide for income for the rest of your lives and eventually fund Foundation

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