Simply put, succession planning entails the steady process of identifying and training potential candidates to fill up key leadership roles in a company for the near future. For many family-run companies, this means choosing an heir from the younger generation to take over the business
Tag Archives: Legacy Planning
Legacy Planning Part 3: How Strong Families Survive Tough Times
Join Tom Rogerson, CEO from GenLegCo. and Matthew Blattmachr, CFP, CEO from Peak Trust Company discuss the third and final part of How Strong Families Survive Tough Times – Putting it into Practice (part 3 of 3)
Legacy Planning Part 2: How Strong Families Survive Tough Times
Join Tom Rogerson, CEO from GenLegCo. and Matthew Blattmachr, CFP, CEO from Peak Trust Company discuss the second part of How Strong Families Survive Tough Times – Tackling Communication, Values & Family Conflict (part 2 of 3)
Legacy Planning Part 1: How Strong Families Survive Tough Times
Join Tom Rogerson, CEO from GenLeg Co. and Matthew Blattmachr, CFP, CEO from Peak Trust Company discuss How Strong Families Survive Tough Times (part 1 of 3)
We address in this Webinar the need for family meetings and legacy planning. Throughout this video, we talk about the client experience and survey results, the cost of conflict avoidance, the problem with traditional planning, family culture, and more.
Legacy Planning: It’s more than the money
When families think about estate planning, they usually focus on how to transfer financial assets, such as money, property, art, and other material assets. However, there is a critical element missing. When thinking about estate planning, families should also consider legacy planning. After all, that is what they are conveying: their legacy, not merely their estate and assets.
According to an online Allianz American Legacies “pulse” survey, participants overwhelmingly voted that a family legacy encompassed more than a financial inheritance. In fact, family stories and values were deemed more important than the transfer of assets. Legacy planning— unlike traditional estate planning—includes the transfer of financial wealth as well as the family’s mission, traditions, values, stories, and meaningful memories.
While the concept of legacy planning resonates with many families, there is a difference between the idea and the practical implementation. Families that successfully transfer their legacy first develop a thorough plan, mission statement, constitution, and framework for open dialogue. Here is a list to help families start thinking about the legacy they wish to leave for the next generation. Our goal is to help families prepare and transition successfully for future generations. Download information on Peak Trust Company’s Family Legacy Planning Program.
Using Legacy Planning to Generate Client Relationships that Go Beyond the Transaction
- Statistics around legacy planning
- Specific process, Stages and timeline
- Benefits for the family
- Benefits for the advisor & attorney
Amy Norton- Going Beyond the Transaction: Unlocking Long-term Influence with Clients and Families
Amy Norton, Partner, GIANT Worldwide, talks about influence and what that means. Amy talks from her experience on how to change leadership culture by helping companies create influence and healthy culture in a scalable and sustainable way.