For 35 years, I have partnered with families to plan for the best, prepare for the worst, and serve as a steward of their dreams. Many of the people I work with are natural stewards and forward thinkers. They’ve grown tired of taking a piecemeal approach to their financial future and want a trusted partner to handle the complexities so they can focus on what’s possible, without the constant worry of how to plan for it.
One of the biggest concerns I hear is whether families have enough assets to maintain their lifestyle. Research shows that this question keeps many couples awake at night. To provide clarity, our WealthVision planning process examines countless scenarios, running 1,000 projections that vary investment returns and stress-test their chances of success. Beyond that, we can model multiple “what if” situations so families can make decisions with confidence.
Another common challenge is determining the best way to transfer a family business, whether that’s to the next generation or to an outside buyer. Every family’s situation is unique, so we evaluate each option carefully, discussing advantages and disadvantages, weighing them against family goals, and iterating until the most appropriate solution emerges.
Families also worry about how wealth will affect their children and grandchildren. Left unplanned, inheritance can create problems if children are unprepared to manage it, or if assets are left vulnerable to creditors or divorce. One of the first things we do is review their current legal documents to determine when and how children inherit assets. At what age do they have access to wealth? Is there an age at which they have unlimited access, or is the trust distributed outright to them? This can be a disaster waiting to happen if the child cannot manage wealth wisely or has a known condition or illness. Furthermore, assets given outright to children offer no protection against creditors or in the event of divorce. Updating estate planning documents can mitigate these risks.
At the heart of this work is a commitment to guiding families through life’s most important financial questions with clarity, foresight, and care.
Contact me at [email protected] or call me at directly at (262) 446-8137.
IAG Wealth Partners, LLC and LPL Financial do not provide legal advice or tax services. Please consult your legal advisor or tax advisor regarding your specific situation.
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