“Family means no one gets left behind or forgotten.”


Essential Component to Your Estate Plan

According to a study that surveyed 3,250 wealthy families, 70% of the time when wealth is transferred to an heir, it is lost due to mismanagement, poor investment choices and other mistakes.

In their book, Preparing Heirs: Five Steps to Successful Transition of Family Wealth and Values, Vic Preisser and Roy Williams cite three reasons why wealth transfers result in so many catastrophes:

  • 15% of failed wealth transfers are a result of taxes, legal issues, and poor financial planning.
  • 25% of failed wealth transfers are because of inadequately prepared heirs.
  • 60% of failed wealth transfers are because of breakdowns in communication and trust within the family.

The problem is that the accumulation, management and retention of wealth is a direct manifestation of mindset and action. When families only focus on hard assets – the money – they lose sight of their most important assets. You have three asset types and only focusing on the money or tangible assets leaves a gaping hole. If you are not able to properly pass on all assets to your heirs, you end up with break downs in family communication, misunderstandings, legal problems and squandered wealth.

Assets of Excellence

Your assets can be broken into three main categories:

  • Character Assets: Your meaningful relationships, values, health, spirituality, heritage, purpose, talents, and plans for giving.
  • Intellectual Assets: Your business systems, alliances, ideas, skills, traditions, and wisdom.
  • Financial Assets: Your physical wealth and how to pass along money in a way that is meaningful and is not going to harm its recipients by making them dependent and unhappy.

When you look at the stats above, you’ll see that 85% of failed wealth transfers are a direct result of not properly passing on intellectual and character assets and much of the remaining 15% could be solved by transferring these two asset types as well.

We have created a structure to pass on your Intellectual and Character Assets to your heirs.

Your Family Legacy Plan

There are six components to successfully crafting a family legacy. They are:

  • Beliefs, Values and Vision
  • Family Heritage
  • Master Stories
  • Systems for Living
  • Experiential Bonds
  • Community Impact

Our legacy planning team works with you to create a comprehensive plan tailored to your specific objectives and family style. Much of the content is non-financial, although there are components which can impact financial structuring. We can work with your estate planning team on these components or suggest financial experts of our own (if needed).

This plan becomes your guiding principles and custom manual for successful living. It is structured so you can implement it with your own team or resources. Or we can implement it through our team of experts.


To arrange an appointment with one of our legacy planning experts, call 801.386.5861 or enter your information below.