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Collaboration and Communication Are Vital:

The dynamics of intergenerational wealth planning require communication capability to effectively share values, goals and objectives. Every family communicates but often not regularly or very well. Purposeful family meetings, sometimes facilitated, will create skills in the family so that authentic strategies and effective tactics can be developed by their skilled advisors.

Professional advisors that function in a collaborative manner with other trusted advisors will enjoy a planning synergy that further enhances the long term sustainability of the wealth. Smart collaboration means an estate planning lawyer, tax advisor, insurance professional, investment professional and family wealth strategist/family enterprise advisor that can work together towards the best interests of their common client.

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