At the Alchemia Group we are helping our clients think & act differently in regards to their wealth and its impact on thier family - because we know it is more than just numbers and plans, it's the Balance of Art & Science with Pragmatism and Vision.

It’s not about Death and Dying: Part 2

Last week I did a quick post about the ‘Death and Dying’ part of planning. Originally, I had described dying as a risk to successful goal accomplishment. It was pointed out to me that maybe it is a factor not a risk. After reflection, I think it is actually both. Let me use an example.

Planning is about both personal and financial goals. Let’s say you plan on mentoring and creating experiences for your children around the wise and purposeful use of financial assets. In fact, you hope that becomes a tradition for generations to come. One of the risks to accomplishing this for your children is your death before you have finished mentoring them. To manage and hedge against this risk you incorporate appropriate guidance for their guardians and trustees in your estate planning documents.

For the goal that this type of mentoring becoming a family tradition for generations death is a factor. Your estate and legacy plan has provisions to see this supported regardless of your short or long life.

While no one (well maybe a few) want to dwell on their own death, it should not be a block to creating a Family Wealth Plan that is based on family flourishing, both now and in the future. Death is both a risk and a factor that needs to be considered but not the central focus of your plan.



It’s not about Death and Dying: Part 2