keeping it

This section is for those of you who want to be able to pass along your financial and personal legacies to your descendants .... even unto the fourth and fifth generations.

Here we explore estate planning, tax planning, family organization, heir preparation, family meetings, educating the next generation and so much more.

If you hope to avoid the "shirtsleeves to shirtsleeves" cliche in your family, all of these things are necessary and inter-meshed. Keeping wealth in the family for generation after generation boils down to three big areas:  estate planning, heir preparation and family optimization.

Estate Planning


The basics of an estate plan include a will, perhaps a trust, and designation of beneficiaries and a trustee or executor.  Estate planning can be simple or very complex, depending on your wishes and the complexity of your assets and beneficiaries.

If you don't plan out how you want your legacy to be handled, and implement the proper legal forms to make it happen at your death, then the state or country in which you live will distribute it for you, based on their rules.  Letting that happen can cause issues.

Information for you.

You are the 'grantor', the one with the estate.


Information for Your Executor

The executor (or trustee) makes sure your estate plan is carried out.  If you are an executor or trustee, you might need to do some exploration with the grantor, to make your job easier later.

You, as the executor or trustee, may also become the default person to handle pre-death and funeral arrangements.

Of course, you, as executor or trustee will need to handle the distribution of the estate, a rather thankless job and sometimes a difficult one.

Heir Preparation

All of the estate planning in the world won't do any good if your beneficiaries are not ready for your financial legacy.  

Want even more information about preparing your heirs?  These posts are more in depth, including posts describing the camp I hold each summer for my grand-kids to help train them in wise ways with money - Grandma Rie's Money Camp

Family Optimization