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15. Family Wealth Statement

Based on Family Retreat and Questionnaire
Clarifies family goals
Documents preferences for transferring wealth to heirs
Establishes charitable giving intentions
Guides advisors

Our wealth counselors seek to clarify the client's goals and current financial situation. If the client already has all necessary information to provide necessary clarity, we can simply prepare a Value Proposition Letter (explained later). If the client and his or her spouse or family members have not yet clarified goals, then we offer to prepare a Family Wealth Statement. The Wealth Adviser can develop this document after having both the husband and wife answer about 55 questions and then sit down with us for 4 to 8 hours to agree on their answers to the questions. If the client and his/her spouse or other family members have not yet agreed on clear goals for using their wealth, we can help them develop answers to key questions, such as the following:

Do you know when and how your children should receive wealth that you want to transfer to them?
What portion of your tax money would you rather redirect to your family foundation if this will not reduce wealth available for your family?
Do you have a plan for funding your favorite charities through your family foundation?

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U.S. Treasury Circular 230 requires that this firm advise you that any tax advice provided was not intended or written to be used, and cannot be used by you, for the purpose of avoiding penalties that the IRS could impose upon you.