We are fans of giving credit where credit is due when we come across something fantastic. Last week Jerimy (owner and name partner here at Jerimy Kirschner and Associates) found an incredible article by Karen Hube called “Passing Values Through Generations with Family Legacy Trusts.”
If you’d prefer appreciate the author on their server, please feel free to follow that link , however we feel compelled to cite the entire article below.
We hope you enjoy the piece as much as we did.
Passing Values Through Generations With Family Legacy Trusts
By Karen Hube
“At a time when managing money and personal values are often intertwined thanks to the explosive rise of environmental, social, and governance (ESG) investing, it’s no surprise that when it comes to legacy planning, families are increasingly interested in transferring more than just wealth.”
“The question of how to pass personal values to future generations—and to continue to have some influence long after death—is expanding the traditional parameters of estate planning. “Passing values is a huge priority to families when they’re looking at wealth cascading through generations,” says Donna Trammell , director of family wealth stewardship at Bessemer Trust. “It’s often driven by a fear that wealth will demotivate future generations.” A starting point is the common family legacy trust, which is a straightforward legal structure designed to pay assets to heirs in a controlled way after the death of the wealth creator.