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Intergenerational Planning is a comprehensive and complex topic that can include the following:

  1. Planning for the physical and financial care of older family members
  2. Wealth transfer planning
  3. Legacy planning

Planning for the Physical and Financial Care of Older Family Members:

Unlike other firms who consider the process complete when the financial plan is in place, the Resonate team realizes this is simply the first step. Rather than keeping the plan proposed caregiving plan a secret, Resonate skillfully guides the sharing of intentions as the center point of a family conversation.

This invites each person to ask questions, respond about the roles they are expected to fill and to connect with one another through a sense of caring, responsibility and love rather than merely through mandates or obligation.

The richness of the dialogue often inspires new ideas and options which result in cohesive planning linking the generations. Because our clients and their families are informed, they can prepare to fill their roles which helps everyone stay connected during difficult times.

Wealth Transfer Planning:

For those who choose to focus primarily on the transfer of financial assets, the Resonate team creates individualized plans that reflect the goals of the client. We sensitively discuss the best way to transfer assets to various family members and then consider which strategies and/or products will create the desired results.

Of course, we work with allied professionals to assure the planning is done tax efficiently.  We also include questions regarding the clients’ wishes to include any charitable gifts in the transfer plan.

Rather than leaving questions unanswered which may produce painful results, we encourage clients to share their plans with the named recipients through a shared conversation, which is facilitated by the Resonate team.

Legacy Planning:

Legacy Planning expands the wealth transfer process by identifying the values, beliefs and guiding life principles most important to our clients. We explain how the structure of the wealth transfer can align with what is most important to the client and provide examples of how one can transfer the intangible values and family stories along with the financial assets. We find that Legacy Planning offers a congruence and depth typically not experienced with wealth transfer planning.

This Legacy Planning is an important component of the Purposeful Planning Process offered by the Resonate team.

Answer: Wealth transfer planning often focuses only on financial assets; legacy planning includes the transfer of family values, stories and the guiding principles that hold the family together.

Answer: The intergenerational planning topics are widely varied and can include anything that presents a connection from one generation to the next. Examples include: planning for aging – either for oneself or for a family member, wealth transfer, business or family succession planning.

Answer: Families change as older generations are no longer able to provide the leadership they once did. This may be due to diminished capacity caused by illness, accident or simply due to aging. Ultimately, of course, the older generation passes on. Family succession planning creates the opportunity to establish the next generation of family leaders through an orderly and congenial process. The discussion includes the topics of rights, roles and responsibilities needed to help keep the family connected and flourishing.

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“By failing to prepare, you are preparing to fail.”

Benjamin Franklin

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Warren Buffett

“The time to repair the roof is when the sun is shining.”

John F. Kennedy