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Advice for Multi-Generational Families – Part 3

IDA currently serves as a full-time fiduciary adviser team to several intergenerational families. The families that engage us for this experience typically have three or four generations that they are planning with and for. Their primary goals are to ensure that their values and wealth are transferred far beyond the current generations. By talking about these topics openly and with experts, we strive to make the experience one that allows thought, education, collaboration and for the families to strengthen their financial peace of mind. The IDA adviser team is comprised of four generations itself and is uniquely qualified to understand and communicate to each generation accordingly.

In this show you will learn about:

  • The most important things to focus on financially at this stage of life (approximately ages 65 to 95)
  • How to start family focused conversations that focus on how you want your values carried on to the younger generations of your family.
  • Gaining alignment within the family of your intentions.
  • Identifying the roles of the key decisions makers and communicating clear expectations.
  • How to fairly transfer your legacy to your different family members and across multiple generations.
  • How to navigate these conversations with blended families or mitigating risk of spendthrift significant others.

    Transcript Available Here 

    The content of this radio show is provided for informational purposes only and should not be considered investment advice or a recommendation to buy or sell any types of securities. Mr. Labrum and Intelligence Driven Advisers/Financial Detox are not responsible for the consequences of any decisions or actions taken as a result of information provided in this radio show and do not warrant or guarantee the accuracy or completeness of the information provided. The information discussed today reflects the views of Mr. Labrum and his guest(s) as of the date of this show and are subject to change without notice.Past performance is no guarantee of future results. Any forward looking statements or forecasts are based on assumptions and actual results may vary from any such statements or forecasts. No reliance should be placed on any statements or forecasts when making any investment decision. Accordingly, listeners should not rely solely on the information provided today in making any investment decision.There is a risk of loss from investing in securities, including the risk of loss of principal. Different types of investments involve varying degrees of risk, and there can be no assurance that any specific investment will be profitable or suitable for a particular investor’s financial situation or risk tolerance. Asset allocation and portfolio diversification cannot assure or guarantee better performance and cannot eliminate the risk of investment losses.