A Life Enhancement Series Company
Responsible and Rewarding Planning
for the Future of Your Family
The Value of a Family Legacy Liaison
Families who successfully stay together for generations use their assets and talents to continually work toward achieving their potential as a family. In many cases, the guidance of a professional in this field, in addition to the experience and training of financial and legal counsel, can make a tremendous difference to protection of family wealth and harmony between the generations. A legacy liaison can facilitate major family transitions in a number of areas.
This approach can reduce the risk of disputes that can threaten the unity or harmony in the family and can help to secure the financial and emotional stability of generations to come.
The Role of the Legacy Liaison Is to Protect and Nurture Everyone Involved.
§ Focus on the family mission and values
§ Represent the interests of the entire family
§ Facilitate open communication among family members
§ Arbitrate between individuals and generations
§ Enhance each family member’s ability to contribute to a positive outcome
The Objectivity of a Liaison
The primary role of the liaison is to make sure all voices are heard and to move the family forward so the process is not stalled or sidetracked by less significant issues or individual concerns. The liaison can often uncover the sources of disagreement that families may have difficulty seeing because their emotional connections are so long-lived and so strong. This objective, non-confrontational approach has many important long term benefits.
§ Avoid disruption within the extended family relationships
§ Diminish conflict and facilitate advisors interaction
§ Smooth transitions as the family situation and dynamic changes
§ Refer other professionals on an as-needed basis
Successful Family Succession
Children learn about money from their parents, not from school or others. Those who teach their children about the energy and responsibility of money have given them a better chance of finding its purpose and truly understanding its role in the greater scheme of life.
When time is taken to share age appropriate financial information with children the child will feel a sense of trust. This open approach continues as the child matures, building a sense of security and trust that impacts the entire family relationship.
A responsible and sensitive way to prepare the next generation of inheritance is to:
§ Educate – explain how your family views its wealth
§ Experience – show how responsible handling of money impacts one’s life
§ Empower – demonstrates pride in accomplishment and the importance of philanthropic works