Multi-generational family businesses often face a unique challenge in balancing the preserving of the legacy of the founders, the capital needs of the company and the profitability distribution desires of the families who represent the ownership, but often do not all work for the family business. In addition, the younger generations have typically not reached a state of financial independence, so the challenges of accumulating retirement and college savings, household budgeting and the typical financial stresses of life are still present in their lives. This constant balancing of family, business and legacy objectives can only be accomplished by first understanding the values and goals of the family as a whole and the individual families within the business.

As part of our multidisciplinary service to clients, our professionals provide comprehensive and individualized financial planning, tailored to each family’s goals and objectives, while coordinating the estate and succession planning to align with the entire family’s business succession objectives. Often the coordination of the planning occurs through our launching, or involvement in, a Family Council.  As successful planning milestones are met, our families are then often able to implement meaningful legacy objectives via the perpetuation of their family’s values to future generations, as well as through their estate planning, philanthropic planning and community involvement. The development of these plans often include consultative tax, estate and multi-generational wealth planning coordination, buy-sell planning, liquidity planning and estate tax minimizing business transfer strategies, often times we serve as a coordinating advisor with the client’s CPA, business and estate counsel and other advisors.

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