Are You Preparing the Family for the Assets or Just the Assets for the Family?

Are you preparing the assets for the family by Danielle Saputo

I encourage you to take a moment to consider the following statements: 

In families the process is greater then the outcome.

Wealth is so much more then money.

If the narrative is not written – people will write their own (transparency and communication is key.)

The skills it took to create the financial wealth are not the same skills needed to transition it.

Families are an eco system – ripples impact the entire pond – everyone has expectations and biases. We need to identify them and manage them.

Decisions are easier when you know your values.

Tough talk matters and people can have voice without vote.

Even the most knowledgeable, successful, wealth creator attempts to pass their hard-earned fortune to heirs who are completely unprepared to receive it. A strong, well thought out estate plan is only half of the equation.  To stretch thin a common sports analogy, having an excellent game plan is worthless if the team never practices. The best way to ensure heirs are ready is to begin the bigger challenge. This is to instil wisdom and create a firm foundation on which the family can continue to build.  This is the challenge of preparing the Family for the Assets. This is the challenge to step into the meaningful conversations, be transparent, look passed your biases (which we all have) and educate everyone who is willing.

Here’s what I need you to know:

  • It’s ok to ask for help
  • It’s never too late to start
The best time to plant a tree is 20 years ago. The second best time is NOW. — Chinese Proverb

I too have had difficulties within my family, no family is the same but are these questions you want to explore?

  • Is your family empowered and living a happy life, are you?
  • Are you communicating effectively, do you feel a lack of transparency?
  • Are you maintaining trusting relationships?
  • Are you clear on the role you play?
  • Do you live your values?
  • Are YOU writing the next page of your story?
  • Are you owning your truest self?
  • Are you moving forward in the best way possible?
  • Are you achieving the life/work balance you want?
  • Are you letting go and moving forward?

As a Family Enterprise Advisor I help you set a clear strategy for multigenerational transition. I help you understand where you are and where you want to go.

  • Are you clear on your strategic direction?
  • Do you have governance in place and the right decision makers?
  • Do you have a team of collaborative multi disciplinary advisors?

Reach out today and let’s have a conversation.

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