Advanced Estate Planning

Natural Priority of Planning

The planning process is driven by three intrinsic objectives:

The need for financial independence
The desire to leave a family legacy
The desire to have a positive impact on society through a social capital legacy

Your plan should maintain your desired lifestyle and protect your financial security, transfer what you have to whom you want, when you want and how you want, and allow you to choose between charitable or tax dollars.

Navigating the Life Stages

Financial Dependence

We all start at birth. This begins the wealth accumulation phase of life. During this phase, we are financially dependent. Initially, we are dependent upon our parents. As we become young adults, our dependence shifts to ourselves, and our ability to generate wealth through employment earnings or building a business. The focus of this phase is wealth accumulation. For most of us, during the Financial Dependence stage, we must work for money – to generate the desired lifestyle and protect our financial security.

Financial Independence

The second line illustrates the point where you achieve Financial Independence; when your financial resources are sufficient to support your lifestyle and protect your financial security. At this point, your money begins to work for you, and you have the freedom to buy back your time to create the calendar you desire. Once Financial Independence is achieved, the rules of the game change. With regard to your financial independence, the objective becomes defendable growth. Protect the base and limit the risk.

Financial Transcendence

The dotted line makes the boundary between independence and transcendence. This is our final opportunity to apply our wealth creatively and effectively for the benefit of others. It is where our financial resources transcend ourselves and are used for the benefit of our heirs or society at large. Family Legacy is where you allocate resources to your heirs. Social Capital Legacy, traditionally thought of as philanthropy, is where you allocate resources to benefit others.

Empowering Excess Wealth

Every dollar accumulated above your financial independence goal is essentially unproductive unless used to accomplish a meaningful goal. We refer to these dollars as Excess Wealth. There are four potential uses for excess wealth:

To improve your lifestyle. Is there anything you desire to complement or complete your current lifestyle?
To keep playing the game. What is left on your list of things to accomplish in life?
To provide security and opportunity for your heirs. How can you use your financial resources to positively impact the lives of your heirs?
To provide security and opportunity for others. How can you use your financial resources to positively impact the lives of others?

Our objective is to help our clients create and effectively deploy excess wealth in a manner that accomplishes their greatest goals, dreams, and desires.