Most families aren’t aware that planning strategies are dynamic in their own right. In fact, most estate and business planning messes arise from a lack of methodology and accountability for continuous management.
Obvious changes, such as family events and dynamics, will impact your planning. Also, changes in the financial markets, legal landscape and tax code will cause your planning to shift. With a careful eye, these shifts can be tended to without devastating your planning.
- We meet to listen, ask questions, and gain a current understanding of your interpersonal and wealth-based concerns and desired outcomes. Where appropriate, we explain our process and set a time for you to meet with us and your trusted advisors to chart the preliminary course for the year.
Gathering and Evaluation
- We gather, review, and synthesize your existing Wealth Business Strategies Plan including new and/or changed data and then meet with your Collaborative Advisor Team to review our initial impressions and refine the Tactical Planning Session agenda.
Tactical Planning Session
- We facilitate your family or team members through a full day of interpersonal and tactical planning utilizing our Nine Key Business or Family Questions. Together we identify areas of misalignment and alignment.
- Where concerns exist, we seek clarity of the problem and possible solutions that may not have been obvious before. We then develop this year’s potential Enhancement Initiatives to be assigned to the appropriate advisor and team members with timelines and responsibilities.
Enhancement Initiative Implementation, Phase One
- Together, your advisory team assists, coordinates and assigns the implementation of each of the Enhancement Initiatives while keeping you and each other informed.
Update and Planning Session
- We benchmark and monitor your plan and goals, keeping in mind end of year tax planning and current asset and estate values. In a half-day session, we facilitate meetings with each of your advisors – both family and non-family members—to understand the current status and progress regarding your personal, legal, financial, and tax situation.
Enhancement Initiative Implementation, Phase Two
- Your team continues communicating with each other and you while finalizing the Enhancement Initiatives.
- Following implementation, we meet with you, your family, and your other advisors for a Confirmation meeting to review and address the Implementation Details, Exception Reports, and Remaining Questions. Where appropriate we discuss the following year.