The original article is worth reading, but here is the list of bullet points in summary:
- Overcome the Concept of Fairness
- Transfer Assets Based on a Natural Flow
- Protect Family Assets
- Make Major Decisions with Every Family Member in the Room
- Do Not Wait for the Original Founder of the Family Business, or a Parent, to Pass Away
- Evaluate What You Can and Can’t Afford to Transfer
- Treat Estate Planning as an Ongoing Process
- Pick the Right Professional Advisor
It’s worth reading through the list and a few more like it.
What does your family need and how will you plan “for your family” to head off squabbles, infighting, or outright litigation?
