Communicating your intentions with the kids

Mar 11, 2024

The top priority for our clients is a focus on securing the financial future of their loved ones, most importantly, the future generations.

However, a crucial aspect often overlooked is communicating your intentions to the next generation.

It is important to communicate your estate planning strategy, to ensure that your family understands the structures of ownership of your assets, your estate plan and the process of wealth transition.

Communication about this topic bridges the gap in knowledge and provides the next generation with a roadmap to navigating the responsibilities and understanding any challenges.

When conducting an estate plan, we encourage a holistic approach and recommend the involvement of relevant family members during the planning process to ensure that the next generation gain an understanding and knowledge on what they will one day inherit.

This approach ensures that your family receive tailored advice to your comfort level and financial sophistication.

A mutual understanding between you and the next generation will assist in managing expectations and limit the likelihood of disputes within the family.

It is more likely for wealth to be preserved for the future when intentions, and religious and family values behind wealth structures are communicated.

We encourage incorporating a holistic and bespoke approach when preparing an estate plan which compliments your family so that the next generation is equipped and challenges are minimised during the times of wealth transition.