Many estate-planning advisors are claiming that familygatherings are a best practice to serve a family’s estate planning goals.This is especially true if the client’s goal is to sustain familial wealth overgenerations. Family gatherings that key in on understanding one another,learning together, and mutual decision-making are critical to accomplish thefamily wealth goals. It is best to have a third party facilitate the familygathering to coach the family on setting up a strategic family plan. Creating amission statement and values might help translate those agreements to otherareas. Inviting as many adults in as many different generations is a good ideawhen determining who should be included. Limiting the discussions about moneyfor the first initial gatherings is also advisable. It is best to choose aneutral location such as a resort or retreat facility. Families that havesuccessful facilitated family gatherings have had positive results in estateplanning and family bonding.
See Matther Wesley and Stephen Campbell, The Anatomy of A Family Meeting, Private Wealth Magazine, Jun. 4, 2013.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
