1 Pillar of Support Compared to 4 — Focus on Life and Living
Purpose, alignment, trust and communication- building and preparedness are about life and living. Focus on people first. In a study of 2,600 adult children and parents, when asked to choose only one of the four Legacy Planning Pillars, not one person surveyed chose financial assets and real estate as the most important. Yet, that is what traditional planning is all about – dead assets for distribution after death.
Traditional Estate Planning- One Pillar
Definition: Give what I have (financial only) to who I want, when I want, the way I want, at the lowest financial cost.
- Me – Insulated
- Product or technical plan
Timeframe of focus: Transfer at death
Tools: Limited to management of financially valuable assets – Legal and Financial only
Shallow – about what I have and cost
- Task and cost-driven
- Narrow and shallow – one pillar only
- Tax and investment conversation
- 70% failure
- Family disharmony and disintegration
- Heir, family and community loss
- More waste and expense
Legacy Planning- Four Pillars
Definition: Apply what I have (all four pillars of wealth) for the greatest life and legacy impact I can discover with family and advisors.
- What is important- goodness, beauty, and truth
- Education, communication, relationship
- Impact and value
- Family harmony & human capital
Timeframe of focus: Life impact now and for multiple generations
Tools: Focuses first on values, purpose, and alignment, then integrates legacy practices and language with legal and financial plans that express your love, hope, and intent.
Deep – about what might be.
- Mission and impact-driven
- Broad and deep – all 4 pillars and possibilities
- People, passion, alignment, thinking
- High success rate
- Family harmony and well-being
- Individual, family and community all benefit
- Ultimately less expensive and greater impact
Ultimately, legacy planning ensures: Your wealth and purpose will work in harmony, your heirs will be prepared, and your legacy can be generational.
Your Family’s True Wealth Centers Around Human Capital
Your family and what is important:
- Trust and communication strengthening
- Alignment of purpose
- Heir responsibility and preparedness
Your advisors and big picture understanding:
- Relationship strengthening
- Alignment of purpose
- Purposeful documents and plan
- The Advisor Support System™
You and your legacy:
- Your values and goals
- Heritage, memories
- Purposeful expressions of faith, hope and love
The Pillars and Practices of Legacy
Family harmony, synergy of purpose, and the longevity of core personal values are key to legacy.
It’s all about the sacredness of your life’s work and the unique journey of your loved ones.
Successful integration across generations of purpose, virtue and preparation with financial capital enables new family and personal growth possibilities.
When we help you with this, your legal and financial advisors can give better advice, too. A richness beyond monetary value becomes available to you.
Legacy practices focus on people and purpose:
- Life and wealth mission
- Trust and communication
- Heir preparedness
Legacy practices focus on protection and opportunity:
- Legacy support
- Unique systems and tools
- Records management
When all four pillars of legacy are secure, you are free to create a legacy treasure of lasting value and beauty.
- Pillar I
Values and life lessons — pass on your values and life lessons from one generation to the next. Ethics, morality, faith, family traditions and family history are all part of this pillar.
- Pillar II
Instructions and wishes to be fulfilled — this includes love and concern expressed in directives such as care for self or a loved one, incentives to finish higher education, and funeral instructions.
- Pillar III
Personal possessions of emotional value — possessions and heirlooms that carry sentiments and memory can be a cause of great family conflict. Examples include a father’s baseball glove, pictures and journals.
- Pillar IV
Financial assets and real estate — elements of financial value such as savings accounts, stocks, bonds, IRAs, a family business, real estate holdings and vacation property.
Legacy Practices Ultimately Result in Legacies That Last
Many families have developed some or all of the following legacy structures. Over generations, the desire to protect and share intangible wealth often leads members to institutionalize resources for the family’s spiritual, emotional, intellectual, and physical health.
Family structures that last are necessarily grounded in all four pillars of wealth as well as vibrant legacy practices. The structures engage the communication skills, personal abilities, life passions, and philanthropy of family members.
Values, family heritage, preparedness skills, and the ability to work together as family naturally develop in these supportive environments.
As the family aligns and works together, anything is possible when it is built around a solid legacy structure of:
- Family financial health
- Family philanthropy
- Family information and enterprise
- Family values
- Family history and resources
- Family reunions
- Family education
- Expressions of faith, hope, and love
Learn more about legacy structure: Generational Succession Systems: Estate Planning For Long-Term Family Success
What’s In It For You
Our core purpose is to help you create harmony between your wealth and your purpose. We do this by aligning all of your assets; financial, intellectual, and human, with your goals. We help you enhance the capabilities of these assets and reduce the risks of failure. You will see these benefits:
From an individual family perspective:
- Peace of mind – since you and your spouse are in alignment, you’ll be able to engage, mentor, and include your children’s unique gifts and interests in a cohesive, unified legacy approach. This will negate internal family conflicts and strife.
- Heir preparedness – your heirs will be prepared to receive the advantages the family has to offer and to not only sustain, but increase the legacy financially, intellectually, and philanthropically.
- Successful transfer of all 4 Pillars of Legacy wealth and legacy practices over generations – you will establish a self-sustaining system that will value and transfer all family legacy wealth from generation to generation, not just from parent to child and not only financial assets.
From a society perspective:
- Discover family purpose – your family will be able to articulate what it wants to stand for and what it wants to contribute to society.
- Impact communities – your family will be able to leverage all of its resources, financial, social, spiritual, and intellectual. You will make a significant legacy difference in other families and the communities where you live.
- Sustained legacy – your family will learn how to go beyond the initial implementation of philanthropic work with a model for legacy transfer of values. You will be able to sustain the impact your family has over multiple generations that can span over centuries and benefit other families.
Why We Do What We Do
Our passion is to help individuals and families fulfill their potential and calling. We strive to make a difference for families that have a strong desire to engage in best legacy practices.
We represent a successful alternative to family fights, wasted community potential, hard feelings and the terrible waste of unprepared heirs. These are the rule rather than the exception… and that is unacceptable to us. We help you design and implement a big, bright future -your legacy vision.
We know firsthand the challenges you face. We are heirs of tangible and intangible wealth ourselves. Personally and professionally, we know the tremendous harm inflicted on individuals, families and communities from lack of legacy planning. We’ve seen families divided, wounds inflicted, and unprepared heirs who never fulfill their potential as productive citizens. The lack of legacy planning affects everyone associated with the family- children, spouses, grandchildren, friends, and the community.
We thrive on filling the gap between what often occurs and your family’s potential for something bigger. We take immense pride and joy in committing ourselves to the 50-year impact of our work for you. We are uniquely qualified by temperament, passion and training to help you fulfill your legacy potential. Toward this end, we are always striving to improve our tools and strategic alliances to assist you, your family and your team.
Because ultimately, our legacy is measured by how well we help you with yours. If you would like to dip a toe in to test the waters of the Legacy Planning process, it is easy to take the first few steps.
Take Steps To Plan Your Legacy
Evaluate your family’s odds of achieving a successful asset transition. Complete the 1O-question Estate Transition Checklist to determine how prepared you and your family are to achieve your asset transition goals.
Complete the Estate Transition Checklist
Our Personal Estate Planning Priorities Survey, in combination with the Estate Transition Checklist, will help determine your vision and goals for your estate plan and how it is administered by your heirs.
Complete the Survey: Estate Planning Priorities