The Secret of Successful Estate Plans

Did you know that 70% of estate plans fail?

In estate planning, the definition of “fail” is that the heirs are involuntarily parted from their assets. Several studies and many experts support this statistic, which is consistent with the reality that only 25% to 30% of family-operated businesses successfully continue from one generation to the next.

We forget that out of necessity, estates put our children into financial and property business together for a short or long period of time. Only 9% of wealth successfully transitions to grandchildren.

In this day of blended families, there’s also plenty of room for mistrust. When you think about this reality, the argument over the cost of will-based versus trust-based plans assumes the truly minimal importance it should always have had.

Legacy Planning Helps Protect Your Heirs

Learn more about the benefits of legacy planning by reading the articles in our Legacy Library:

• Generational Success with Inheritance: Develop Balance and Eliminate Sources of Conflict
• Protect Your Legacy: Begin Estate Planning With The End In Mind
• The Legacy Process — A Generational Protection Plan
• Family’s Human Capital and Advisor Team Provide Foundation For Successful Wealth Transfer
• Generational Succession Systems: Estate Planning For Long-Term Family Success
• Traditional Estate Planning Compared To Legacy Planning
• Best Estate Plan for You, Your Family, Heirs, and Beneficiaries
• Legacy Lifeboat System Makes Estate Planning Fast, Easy, and Affordable

For more information about estate planning that is designed to build family harmony and maintain family wealth for many generations to come, contact us.