What is the Family Wealth Protection
Heritage Wealth Counselors provides
a new model for a family to follow for an orderly successful transition
of their values along with their wealth to future generations. They, first
and foremost, focus on a family’s values, not on the value of
Within their unique process are the
• A Guided Discovery
• A Family Vision Statement is created
• A Family Retreat is held
• Team Planning and Estate Design takes place
• The Plan is implemented and monitored on an ongoing basis
By first fostering a family relationship
based on trust, communication and a unified view of family wealth goals
and values, Heritage establishes a foundation on which to base the long
term impact of a family’s wealth.
The Family Wealth Protection
- Provide financial security for your
family and your beneficiaries.
- Reduce the impact of taxes.
- Enhance family unity and provide peace
- Prepare heirs to manage wealth
- Make the next years of your life the
What steps are contained in the
Family Wealth Protection Process™?
There are primarily four steps that
Heritage Wealth Counselors guide a family through.
The Guided Discovery Interview
The Guided Discovery Interview facilitates
the client’s focus on goals, values and lifestyle choices adapted
from their own experiences and family heritages. As a result, the
client discovers what is most important to them and helps put into
perspective short and long term family financial concerns and
priorities. The Heritage Team uses this interview process to identify
opportunities that will improve the client’s personal, family and
financial well-being. It is also through this interview that the client
puts into perspective their family and social legacies.
The Vision Statement
The Vision Statement is an outcome of The
Guided Discovery Interview and as such reflects a meaningful and
compelling vision of the family’s lasting pursuit of happiness,
unity and shared values. The document elaborates on family history and
reviews the chronology of family wealth along with identifying the
legacy the family wants to create.
This document should create enough
emotional energy to motivate and inspire family members toward a common
pursuit of excellence as defined by the family’s values. This
helps all members focus on a legacy for the future of the family. It
can help a family understand its heritage and, likely, could provide a
rationale for a family’s commitment to one another. It should
describe what is special about the family and how the family can
contribute to each other.
Team Planning and Estate Design
Our comprehensive team works together with
all family advisors in developing and designing an estate plan that
meets the family goals and values that have been identified during this
As a result of the new information
developed through the Guided Discovery, Vision Statement and Family
Retreat, most plans are modified and revised. Heritage Wealth
Counselors works very closely in getting families to take into
consideration the human, intellectual and financial capital in their
estate and wealth transition plan. Heritage continues to work closely
with the client’s advisory team to create the best plan for the
This important meeting and event
brings the family together and provides the opportunity to communicate
on a facilitated informal basis with the younger generation. At this
meeting, a discussion of family values takes place. There is
opportunity to strengthen family commitments, set up a governance
structure and identify the family leadership base.
The participants at this meeting provide a
review of their values and the history of their accumulated wealth. It
is at this event that the family Vision Statement is introduced. Family
members are given the opportunity to assess the human, intellectual and
financial capital of their lineage through discussions initiated during
the Guided Discovery. At this time the unique resources of family
members becomes apparent and ultimately guides the participants in
determining who will sit on the Family Council where the charter and
by-laws are created.
Sample Estate Plan