What will your family — or your family
business — look like 100 years from today?

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Delving Deeper

“David” was a highly successful businessman and still active in his various ventures at age 77. When he first came to Sage360 Advisors, David simply wanted to ensure that each of his three adult sons was provided with $1 million.

As we talked with David about his goals and vision, it quickly became clear that he had been so busy making money and investing in new ventures that he had not taken the time to think about these things. His estate, estimated at over $100 million, was distributed in a patchwork of accounts and instruments, including some insurance policies listing David as the beneficiary.

Additionally, a family foundation had been gifted with some stock in a public company David had created — and the stock had done very well. In order to comply with the private foundation rules, David was going to have to figure out how to give away a great deal of money very quickly.

Sage360 Advisors worked with David to develop his goals for transferring his wealth to his family and the causes he cared about.

Family Advisory Boards were established to provide continuity of management for the family’s businesses; governance structures were created to sustain the wealth through future generations; the family’s charitable mission statement was developed; and grandchildren were included in age-appropriate activities with the Family Foundation.

We also created a customized Blueprint that tracks the assets and cash flows and enables the plan to be easily reviewed and updated at the annual Family Meeting.

 

 

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It takes hours to assemble a plan; it takes a lifetime to build the values that support it.