Generational Wealth Planning
Are You Prepared for the Great Wealth Transfer?
There is a tremendous amount of wealth that will be transferred between generations over the next 20 years. High-net worth families need to have a plan to ensure that their wealth is maintained during and after that transition.
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How Wealth is Lost Across Generations
In working with high-net worth families, we’ve seen that the following factors cause wealth to be lost before, during, and after the transfer between generations:
- Families do not communicate well and expectations are not properly set for the second generation concerning how to maintain and grow wealth for future generations.
- People do not utilize estate planning strategies and complex trusts to keep wealth in the family, leading to a large estate tax bill.
- Business owners do not create a plan for the succession and transfer of their business if they pass.
Our Specialty is Helping HNW Families
Effective generational planning is executed by:
Enabling Family Communication
We help families open up lines of communication about their wealth across the family.
Being a Point of Contact
We act as the point person of all their professionals that coordinates communication on behalf of the family.
Our President’s Book Was Written for Wealthy Families
Our president and advisor, George McCabe, published Building Your Wealth Bridge to help families build and preserve wealth across several generations.
Let’s Discuss Your Generational Planning Needs
Using our virtual family office, you can meet with our advisors from the comfort of your own home while receiving the same level of service you deserve.
The McCabe Difference
We offer tailored experiences for high-net-worth and ultra-high-net-worth individuals.
We take a collaborative approach with other professionals.
We embrace traditional and cutting edge technology to match the times and offer you better solutions.
We prefer a depth of expertise in fewer areas, to being generalists.
We have over 40 years experience in this industry helping hundreds of clients.
Schedule A Meeting
Schedule a meeting with our advisors by using our Second Opinion Service, our advisors’ Calendly links, or simply call our office main line.
Meet With Your Advisor
Meet with your designated advisor virtually or in-person to get to know each other and the rest of your family. Many times, a follow-up meeting will be beneficial so you know the value that will be provided before you become a client of the firm.
Complete Our Onboarding Process
Assuming you and the advisor see the potential for a long-term relationship, our staff will guide you through our onboarding process to set up accounts with our custodian and join our portfolio monitoring system, Black Diamond.
Frequently Asked Questions
Do I have to involve my entire family in this discussion?
Every family is different. While open communication leads to optimal planning in many cases, sometimes involving the family over a period of decades works best. Our advisors will help you navigate this decision.
Who needs to be involved for optimal generational planning?
Our advisors want to act as your point person for this planning, but involving your family attorney and accountant will ensure that you are covering all appropriate angles.