Is It Time To Plan A Family Meeting?
| With the current pandemic, election year, and unsettled economy, now is the best time to consider scheduling an annual family meeting. While many don’t think about holding this in a more formal setting, such as your advisor’s office, it is always a great idea for your family to meet your trusted team. As the Holidays approach, rounding up your family unit in the New Year to review and discuss family values, principles and mission with your team of advisors can help build confidence not only in you, but your family. Should something happen to you, do your spouse and children know what to do if you are not there? Setting up a family meeting can help family members feel more comfortable with how to handle your passing or incapacity, and you can gain the peace of mind that your wishes will be carried out as planned. By allowing your team of advisors to facilitate a family meeting, it creates a place where we can focus on being good stewards of business and personal wealth and taking care of your family if something should happen to you. While there are many more benefits to these gatherings, a word should also be said about confidentiality. A meeting with your advisors allows you discuss the issues most important to you, without disclosing too much information until you’re ready to do so. Family meetings are geared towards a higher level of information and to introduce your team and let your family know that you have thought about, and have a plan for, their long-term wellbeing. |
*Intended as general guidance only and not as legal advice.