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Heritage Planning (continued)

What Caused You to Fail?

60% said the failure was due to a breakdown in communication and trust, 25% said the failure was due to unprepared heirs, 3% said it was a failure in their planning and investing, 12% said it was everything else.*

Around the same time, studies were conducted on the 10% of families that succeeded at maintaining their unity and wealth. The key question asked was “what is it these families do differently?”

The difference was they had added another piece to their planning–Heritage Planning. Financial planning prepared their money for them, estate planning prepared their money for their children and Heritage Planning prepared their children for their money.

Heritage Planning develops the families’ human and intellectual capital. It acts as the bridge between planning for the future of your money and planning for the future of your family. It addresses the key success areas for families by focusing on communication and trust and preparing heirs.

Heritage Planning provides you with a multi-generational strategy that is forward looking. You become the architect of a family governance infrastructure that facilitates the retention and development of your wealth, while ensuring it has a positive influence on the lives of your children, grandchildren and future generations.

Documenting the values, beliefs, principles and philosophies that have shaped your success along with stories and insights to demonstrate how what you have learned influenced what you have achieved, is the beginning of your families intellectual inheritance. This enables future generations the opportunity to utilize what has worked in your family for generations.

This vision and relevant structure coupled with shared goals both collectively and individually, empowers your family to become a multi-generational team.

It highlights the roles required for the family to be successful and creates real life experiences for your children and grandchildren to learn the skills and talents required to fulfill those roles. Having the right people in the right roles is fundamental to success. It also provides you with a structured decision making and dispute resolution process to maintain your family unity.

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*Statistics cited from the book Preparing Heirs by Roy Williams & Vic Preisser