Designing your legacy is more than acquiring and protecting wealth. It involves your inheritors in the conversation, listening to their vision, concerns, and ideas for the future. Here, we encourage all family members to communicate in an open and transparent manner to navigate key wealth transition dynamics, such as:

• How does everyone see the family identity?
• What values do people use to guide their decisions?
• Which aspects, if any, of the family business are they drawn to?
• The expectations you have of your inheritors
• What issues, if any, must be addressed prior to the wealth transition?

At Beacon Family Office, we recognize that family relationships are complex. There are emotions to consider, relationship dynamics to respect, and the level of participation each family member is ready for. Having an independent advisor guide these conversations allows everyone to have a voice without feeling left behind. Through these conversations, your successors gain clarity around:

• Business succession strategies, including expectations for each individual
• Estate planning and distribution amongst the inheritors
• Significant life changes and how to overcome them with confidence
• What taxation strategies will work best based on business, philanthropic, and family goals?
• Key investment decisions based on your wishes as part of the inheritance

Keep your family connected by removing concerns that generational knowledge, purpose, and family pride will be marred by hurt feelings, unprepared inheritors, and disconnection between your vision and their own personal dreams.