Robert S Laura

Legacy Notebook Robert S Laura

Many individuals and couples have taken steps to facilitate wealth transfer, in terms of developing a will or trust for example, and may have even developed some strategies to reduce or eliminate taxes upon death. While these tools and techniques are helpful, they are secondary to the more personal aspects and frankly, much easier to design once personal matters have been discussed and put into writing. The issue at hand is that traditional estate planning process is backwards, focusing first on the transfer of dollars and cents rather than family wisdom and direction. This approach can create situations where wealth is not only destroyed but also family relationships. Reality is, wealth doesn't create wisdom, yet wisdom can create wealth and maintain it!