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Many of our most important choices are built on implicit assumptions of what a family is and how it is supposed to work. Even so, few of us think about what those assumptions are; and fewer of us try to articulate those assumptions. Nevertheless, these assumptions about family form the basis of some of our most basic values.
Although we often don't recognize it, these values can also have a dramatic impact on the choices we make about money - how we spend it, how we manage it, what activities we are willing to support, and what we believe people should have to do to demonstrate the right to exercise control over it. Conflicts about money are often based in disagreements or misunderstandings about the basic issues of family.
As a family grows in complexity - and particularly as a family's finances grow in complexity - it becomes increasingly important that family members develop a shared understanding of the fundamental issues of the family's role in the world, its internal relationships, its vision for its future - in short, the family's legacy. When no common sense of the family's identity has been developed, even the smallest of disagreements or misunderstandings can feel like major obstacles and insurmountable roadblocks to effective planning.
EPIC Wealth Advisors will work with each family and its members to articulate individual assumptions, and to move from those individual assumptions to a Legacy Statement that documents your shared understanding of the family, its shared role, and its shared goals.
EPIC Wealth Advisors professionals will also work with the family to create processes (such as regular family meetings) and structures (such as a family council) that will allow members to review and renew their commitments to the shared vision on a regular basis, and to make the Legacy Statement the real basis for all of the family's important planning decisions. EPIC Wealth Advisors will also work with the family to develop a plan to use these processes and structures to educate and integrate those who become members of the adult family system in the future (e.g. through maturation or marriage).
Contact us for more information.
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