Creating Family Security
Family Security is about having your dreams fulfilled, your aspirations met, feeling confident about your own security and your family’s welfare, having met your responsibilities to your loved ones and even the community we live in. It’s about accomplishing what is important to you knowing that you are living a life that has purpose and meaning. By examining your core values and creating a personal standard that defines who you are, we can discover what is important to you and supports your core values.
Protection – You’ve worked hard to get where you are. But countless years of hard work can be wiped out quickly when the unexpected occurs. According to the institute for corporate planning and finance, 95% of the lawsuits in the world happen in the U.S. If someone wants to come after your money, you need a game plan to discourage them by isolating and insulating your assets. Step one is to protect what you have already achieved.
Accumulation – Investing in appropriate appreciating assets, proper diversification, effectively managing your taxes, and positioning for the future requires on going effort and expertise.
Distribution – This phase requires a thorough understanding of how assets should be positioned, with built in flexibility so they will last a lifetime while taxes are minimized.
Transfer– At your incapacity or death, having a proper plan for transferring wealth will ease the burden on your children and loved ones. Probate and taxes can cause great turmoil, and without a tight legal document, disagreements and misunderstandings can leave indelible scars to say nothing of the wealth lost to taxes and legal fees.
Preservation – While effective transfer of wealth is important, it can be equally important to leave values, philosophies, and stories for your family and loved ones. Preserving your legacy will provide priceless memories, long after you’re gone, for kids, grandkids, and others.
