Summer serves as a cherished time for families to reunite, offering a perfect opportunity to engage in discussions that shape their financial future. With this in mind, we’d like to introduce you to a valuable practice that has proven beneficial to many of our clients: the “family meeting.”
At these gatherings, our clients extend invitations to family members to join us for a comprehensive overview of the financial strategies and goals we are actively pursuing on their behalf. It’s a chance for us to delve into our investment approaches, address any questions they may have, and delve into essential topics such as estate management. We also emphasize the importance of ensuring all critical documents are well-organized and accessible.
Your estate may be one of the most important financial issues your family ever faces, but according to one survey, two-thirds of Americans haven’t put a strategy in place. 1 Without the proper estate documents, the courts may have the final say, which may leave a legal headache for your loved ones over how your money and assets are distributed.
Beyond the technical aspects, these meetings are pivotal in fostering open communication and strengthening familial bonds. We make it clear that we’re available to all attendees, providing assurance that we’re here to offer guidance and support whenever needed.
These meetings often spark interest among family members who may wish to embark on their own financial planning journey or seek a review of their current strategies. Others appreciate the opportunity to meet the professionals responsible for overseeing their financial well-being, establishing a personal connection that enhances trust and peace of mind.
Recognizing their significance, many of our clients have made family meetings an annual tradition. They’ve observed how these gatherings not only deepen relationships within the family but also help preempt potential conflicts and lay the groundwork for resolving future disputes.
As your family gathers this summer, we encourage you to consider the invaluable benefits of coming together to discuss your financial strategies and aspirations. Should you have any questions or require assistance in preparing for a productive family conversation about your retirement and financial planning needs, please do not hesitate to reach out. Together, we can ensure that your financial future remains secure and aligned with your wishes.
Family Financial Workshop Workbook
Click to Download
We have found that families who talk about money may do better financially over the long term. We developed this worksheet to help you explore your financial values, concerns, and priorities and to help you communicate them to your family.
Please use this workbook to introduce financial topics and have important conversations about wealth with your children, grandchildren, and loved ones.
CLICK HERE to download the workbook.
- Caring.com’s 2024 Wills Survey Finds That 40% of Americans Don’t Think They Have Enough Assets to Create a Will
