Continuity Model Generation

Wealth: Asset, Wealth, and Estate Planning for Continuity

Cornerstone Concept: Produce a Handwritten Individual Legacy Statement

Preamble: Continuing in the best financial shape is the holy grail for family business. Everyone knows that. But many postpone doing anything about it…until it is too late. Much of continuity hinges on this plan, arguably the most important of the four plans here.

This plan aims to reduce potential for tension between the owners and the broader family. Of the four plans, this is the most sensitive and the most technical. It is also the one most likely to be shrouded in secrecy. Conspiracy theories abound. Moreover, it is also the one most commonly avoided. Yet the image of the crusty old patriarch dying at his desk and ruling from the grave is not consistent with continuity modeling. The Continuity Generation has a more pragmatic perspective. They recognize that strong financial health and familial harmony significantly enhance chances for continuity. So, rather than avoid asset, wealth, and estate (AWE) planning, they tackle this head-on. In general, the Continuity Generation believes that dealing with difficult, sensitive conversations openly addresses much of the inevitable tension in family business. “There is another way” is the Continuity Model Generation mantra.

Asset, Wealth and Estate Planning for Continuity I: Collecting and Collating Basic Information

What will likely become obvious in these pages is that building your Continuity Canvas ...