Successful families communicate effectively, work together well, and focus on the present and the future. They mentor the children for success, so that they can handle their financial and emotional inheritances.
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It’s all about your family.
Only by putting family first will your planning be able to achieve your most important objectives for generations.
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There are no tax or financial strategies involved.
The Heritage ProcessM deals first and foremost with the unity, strength and harmony you desire for your family now, and in the future. It is not focused on the money. Through this process, the children come to learn that the money is only a tool to help accomplish what really matters. All families are unique, and that means that the financial and other strategies they use to achieve their goals will be unique, too. However, families that wish to remain united and effective for multiple generations can all benefit from the use of the 3rd Element of Planning to achieve their dreams.
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When it’s time for implementation, your own advisors are involved.
The Heritage Process helps individuals and families discover what is truly important, and helps them to craft a vision to achieve those goals. When it is time to match concrete financial and estate planning strategies to your vision, your existing advisors will be involved.
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‘Pre-inheritance’ experiences prepare the children.
Experts agree that the reason that 90 percent of inheritance plans fail is that the heirs are not prepared to receive their inheritances. At the core of The Heritage Process is a mechanism by which the children are mentored, guided and trained in leadership, money management, communication and other important skills.
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Separating the family business from the business of the family.
The focus of family meetings and activities during this process is on individual family members and the united family–not on any investments, family-owned businesses or other financial enterprises the family may own or control. This is time for family.
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Creating multi-generational family governance.
Successful families have shared one thing in common across the centuries. They all create and utilize some form of family governance. Through the structures they create, they mentor the children for success, develop and maintain a multi-generational perspective, and see that the stories, values and experiences that make their family unique are preserved.
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