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Preserving The Vermont Family Fortune

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When it comes to discussing their wealth, around 64% say they’ve disclosed little, if anything, to their adult children and even their grandchildren. Learn more about Vermont family fortune in this presentation.

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Preserving The Vermont Family Fortune

  1. 1. PRESERVING THE VERMONT FAMILY FORTUNE
  2. 2. Did you know that 70% of wealthy famiiies lose their weaith in the second generation? ‘V UNSWORTH LAW, 35 ESiAih PLANNING & ELDbR LAW ‘ ‘ [ -l A . ‘ ’T ‘ ’ ’ ’
  3. 3. For third generations, 90% of the wealth is lost ‘V UNSWORTH LAW, pg 4 ESIAIL PLANNING & ELDLR LAW ‘ ‘ [ -l
  4. 4. The reasons for these losses are many and family elders worry about their younger family members LR LAW ESIAH: PLANNING 8: ELD ‘ ‘ ‘ -l ‘V UNSWORTH LAW, {LE 4
  5. 5. Those worries could include: ‘V UNSWORTH LAW, gtg ESIAIL PLANNING & ELDLR LAW I ‘ K A
  6. 6. ~ A lack of financial skills a personal choices (divorce, committing crimes that lead to incarceration) ~ Substance abuse ~ Fighting within the family UNSWORTH LAW, gtg ” ‘ ESIAIL PLANNING & ELDLR LAW I ‘ -l
  7. 7. Astanling 78% of elders in wealthy families believe the next generation is not financially responsible enough to handle inheritance. ‘V UNSWORTH LAW, gt; ESIAIL PLANNING & ELDLR LAW I ‘ I -l A
  8. 8. |' . . “%v ‘V L V V1, L‘ I " ii i‘: IF T at §‘<"' a‘: :E: ‘*‘ I I" ' , ‘ ’-‘ I . iI -; " “‘ ‘ I l } , II’; g, II%‘; »"§I / ' 2333 I: :Ii'I: I, ~I»II. I‘ <%. .‘IiI ‘I. I1;II- I I I ’ '1. _; - ‘, ‘—'. _'”“. I “:1 '1 ‘- ‘ . . . ~ . _ L ‘-7-§_-gt; . it 2.4? ) l ui. When it comes to discussing their wealth, around 64% say they’ve disclosed little, if anything, to their adult children and even their grandchildren
  9. 9. Experts say that by keeping communication channels open and letting potential heirs know your net worth can reduce problems later on LR LAW ESIAH: PLANNING 8: ELD ‘ _ ‘I -l ‘V UNSWORTH LAW, :LE 4
  10. 10. This means opening up about what’s in the will and the overall estate plan LR LAW ESIAH: PLANNING 8: ELD ‘ _ ‘I -l ‘V UNSWORTH LAW, gt; 4
  11. 11. Ideally, this woud happen in a family meeting so that everyone knows firsthand what to expect UNSWORTH LAW, r= L£ ” ’ ESIAIL PLANNING & ELDLR LAW I‘ . -I
  12. 12. For those who are mncemed about any contests to the will, there exists a no contest option LR LAW ESIAH: PLANNING 8: ELD ‘ _ ‘I -l ‘V UNSWORTH LAW, 35 A
  13. 13. This could prevent some heirs from inheriting anything if they dispute the will or trust
  14. 14. Whether you’re concemed about family problems after the will’s been read or if you wish to add or remove heirs, we invite you to contact our ofifices today ‘V UNSWORTH LAW, 35 ESIAIL PLANNING & ELDLR LAW I _ I -l A
  15. 15. We can help you better protect your assets while also defining the I repercussions should a family member dispute the plan’s contents ‘V UNSWORTH LAW, gtg ESIAIL PLANNING & ELDLR LAW I ‘ I -l A
  16. 16. LEARN MORE ABOUT FRESERVING THE FAMILY FORTUNE IN ESSEX JUNCTION VERMONT
  17. 17. _, .,r. —i our‘ 4''‘ EIIEI; to visit: I . U orth w. net

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