They also knew their estate plan was out of date, their taxes were getting increasingly complicated, and their investment portfolios weren’t performing as well as they could be. In short, they were feeling overwhelmed and ready for a thought partner that would both see the big picture and help with the details.
When we started our work together, Matter helped Don and Debbie articulate a short and long-term vision for their wealth as well as shared values that would serve as the foundation for a purposeful family strategic plan. We also collaborated with the couple to:
- Find the right estate attorney and restructure their estate plan
- Create cash flow and budget projections that meet their lifestyle needs
- Redirect their portfolio toward ESG investments and other opportunities that align with their values and outcomes
- Begin long-range philanthropic planning that focused on the family’s core interests and passions
Our team also helped the Jacksons with modeling scenarios to make sure proceeds of their business sale would end up in the right entities, and we created and funded several family trusts with company stock.
Don and Debbie were particularly interested in ensuring their children would continue to thrive with inherited wealth and maintain the ambition to make their own ways in the world.
Don and Debbie were particularly interested in ensuring their children would continue to thrive with inherited wealth and maintain the ambition to make their own ways in the world. We helped the Jacksons to start sharing their estate plan with the kids and begin involving them in relevant inheritance discussions and decisions. We also worked with the children to build financial knowledge and confidence.
The Jackson’s Matter team:
- Helped each child create a personal financial plan
- Formed a next-generation investment committee to give the children experience managing one of the smaller family entities
- Led the oldest Jackson child and her fiance´ through the prenup process and helped them prepare for their financial lives together
The Jacksons are pleased to have a team in place that understands their whole financial world and makes sure the details are covered, so they can focus on running their business and staying on top of the kids’ daily routines. With the business sale and liquidity event in sight, they feel relieved and excited to have a solid plan in place, and the whole family is ready to navigate the upcoming changes and new responsibilities together.
The information above is based on actual client situations but names and facts have been altered for privacy purposes.