There are a lot of great wealth management firms in The San Francisco Bay Area, many of which focus on this wealth transfer segment of financial planning.  What we hear from the clients who have chosen Summit to help them with their multi-generational wealth is that they value:

On average, roughly 70% of family wealth is lost by the end of the 2nd generation and nearly 90% by the third

We find that most of our clients have a general sense that they want to pass wealth on to future generations, but there isn’t clarity on what that looks like. You’re likely somewhat familiar with components of a wealth transfer like trusts, wills, estates and more, but before we get there, we want a broader understanding of what makes you tick. Perhaps philosophically, what do you want to pass down to your heirs beyond X amount of dollars?

As part of the planning process, our goal is to help you clarify for yourself, what your priorities, goals and multi-generational objectives are. That clarity is instrumental in identifying and implementing YOUR plan and the required administrative work to put it in action.

At the end of the day, your transferable wealth is going to family & friends, charity and/or the IRS.  As your financial advisors, our job is to ensure that process is handled correctly, maximizing the long-term benefit to your heirs & charitable recipients and minimizing the cost of making that happen.

While effective tax and estate planning are crucial to maximizing the amount of transferable wealth and ensuring that process runs smoothly at the time of transfer, ensuring that wealth is able to benefit future generations is deeply rooted in developing effective communication with your heirs.

Summit Wealth will help you address your concerns, develop a plan that matches your scenario and then provide the tools to effectively communicate that plan to those that will benefit.