Picture the scene:
An elderly relative has died, and family members are gathering at the office of an attorney for the reading of the Last Will and Testament of the deceased.
It’s a mystery. Only the attorney knows the content of the estate and the related distribution to close and distant relatives, other individuals, and appointed causes.
Some in attendance, did not know the deceased or did not have any active relationship with the deceased.
With the reading there is surprise on both the large size of the estate and how it will be distributed.
There is excitement for some. There is shock and anger for others.
There are questions for all.
While today this process generally takes place electronically rather than physically in an attorney’s office, unfortunately the inheritance surprise is more common than we would like. The lack of effective communication during and after the planning process can have a significant negative impact on the effectiveness of the plan. The resulting questions and inability to obtain answers, may negate the generosity and good intentions of deceased.
Estate Questions
Planning Questions
Inheritance Questions
Charity Questions
Trust Questions
Family Questions
The ultimate effectiveness of a wealth plan has less to do with tax avoidance and elegant legal construction and more to do with family understanding, acceptance, and preparation. A generous and well-intentioned plan without appropriate involvement and communication can destroy the trust and acceptance between family members.
At Telemus, the foundation of our organization is based on a holistic approach to financial life management for wealthy families. We have the experience, resources, personalized approach and succession structure to assist you in reviewing your world and developing, implementing and supporting appropriate ongoing strategies to prepare and support you, your spouse and your children now and in the future. Let us help you prepare for your future. Let’s start the discussion!
PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. This material is presented solely for informational purposes only. Telemus does not provide tax, legal or accounting advice, and nothing contained in these materials should be relied upon as such. Nothing in this presentation in intended to serve as personalized investment, tax, or insurance advice, as such advice depends on your individual facts and circumstances. Investment decisions should always be made based on the client's specific financial needs, goals and objectives, time horizon and risk tolerance. Current and future portfolio holdings are subject to risk. Risks may include interest-rate risk, market risk, inflation risk, deflation risk, currency risk, reinvestment risk, business risk, liquidity risk, financial risk, and cybersecurity risk. These risks are more fully described in Telemus Capital's Firm Brochure (Part 2A of Form ADV), which is available upon request. Telemus Capital does not guarantee the results of any investments. Investment, insurance and annuity products are not FDIC insured, are not bank guaranteed, and may lose value. Advisory services are only offered to clients or prospective clients where Telemus and its representatives are properly licensed or exempt from licensure. No advice may be rendered by Telemus unless a client service agreement is in place.