Give Well, Guide Well, Govern Well

When we plan the transfer of wealth between generations, we must think about the hopes, aspirations and intentions of the giver and the impact of that wealth on the receiver.

Where family trusts are involved, we also need to think about the style of trustee care and practice we want and whether it will positively enhance the well-being of trust beneficiaries.

If family is important, you don’t want to leave a mess. When plans don’t work, or if things are left unsaid, the associated pain and hurt can cascade down a family for generations to come.

It’s more than passing on money…

Good estate planning and trust governance is about investing in the future well-being of your family.

People must be able to flourish and thrive in the estate plans and trust structures we create for them. That means PEOPLE must be front and centre in the planning process to ensure we:

• get clear on what’s important

• understand what’s possible

• create positive and meaningful experiences

• encourage excellence in trustee performance and beneficiary outcomes

Lindsay facilitates a purposeful planning process to help families get in conversation with their trustees and professional advisers so everyone knows the plan and is on the same page.

The process is about helping people give well, guide well and govern well.

Not all wealth transitions and family trusts are purposeful…

Traditional estate and trust planning has tended to focus on financial assets (the money) and legal structures (like wills and trusts) to transfer and hold those assets. Too little attention has been given to the impact on the people who receive the financial wealth (the inheritors, trustees and beneficiaries.

With more financial wealth being transitioned between generations on trust, family trusts must work for all involved. Conversations are needed to ensure intentions are clear and to ensure trustees and beneficiaries are prepared.

Purposeful planners understand the importance of creating empowering and enhancing experiences.

They understand how to help trustees guide purposeful outcomes and help beneficiaries live well with financial wealth and trusts in their life.

Questions for reflection…

• How well have your intentions and hopes been defined and communicated?

• What messages are you sending with your estate plan or family trust?

• What style of trusteeship would you want for your trust beneficiaries?

• How are you positively contributing to how you will be remembered?

• Does your current estate plan or family trust practically work?

Invitation

Lindsay invites you to make contact for a confidential conversation to talk through your situation. When you know what’s possible, its easier to take the next step.