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:
We work with a significant number of families whose wealth is going to outlive them.
We take great pride in the fact that these families trust us to act as the architect - Designing their wealth transfer plans and then working with their CPAs and Attorneys to execute the game plan.
Over 30 years helping Danville families navigate multi-generational wealth
Did you know?
On average, roughly 70% of family wealth is lost by the end of the 2nd generation and nearly 90% by the third
Start by Gaining Clarity
Build a plan based on your priorities, both financial & emotional
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.
Build & Implement the Plan
Estate & Tax Planning that addresses those priorities and concerns
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.
Communicating your legacy
Facilitating "the money talk" between multiple generations
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.
Did you know?
Summit Wealth offers financial literacy training & coaching for our client’s teen & adult children. Without revealing any actual inheritance expectations, we believe training your young family on financial concepts will help prepare them for life’s money questions and specifically, what’s to come with your family’s financial plan.