Integrated Financial Planning and Strategies
Short of inheriting it or winning the lottery, the only way to accumulate wealth is to diligently manage your cash flow so you have excess funds to save and invest every month. Spend less than you make, and save and invest the rest. Preferably save first, and spend what remains. Have a system or use software to track all of your expenditures. We can prepare a plan that shows you what you must do to secure your future and how best to implement it.
Asset Wealth Consulting
Family Wealth Leadership offers customization, creating a plan tailored to each family’s needs, desires, and capabilities. The primary objective is to bring all family members into the process to help design and implement a plan that will prepare the next generations for strengthening and growing the family’s wealth, but more importantly, to solidify family relationships rather than allowing the wealth to dissolve them, so that a family legacy will be achieved.
Wealth Transfer & Estate Planning
Don’t go directly to the attorney for estate planning before talking to us first. They are a valued and necessary advisor; however, they draft documents; they don’t do planning. Good estate planning and wealth transfer includes all family members, family meetings, and lots of discussion and analysis to ensure the wealth transfer strengthens the family rather than destroying it. You may think your family is immune, but the odds are against you. Statistically, 70% of wealth is lost when it transfers from generation to generation and completely gone by the end of the third generation. We can keep that from happening through our family coaching process.
Family Coaching & Education
It has been documented historically that 70% of family wealth is lost each time it passes to the next generation, and completely gone when the 3rd generation dies. The odds that your family is in that 70% are very high. The primary reasons are a lack of training, education, and experience; coupled with breakdowns in trust and communication within the family. It is virtually impossible for a family to solve these problems on their own. A family coach, competent in working with family issues around money and relationships can help a family navigate the minefields that lay in front of them as they pursue a significant future.
Asset Protection, Liability Management, & Insurance Planning
Debt is not bad, but it is dangerous. Think of it like a knife. If used properly, it has many positive uses. Used carelessly, and it can cause severe and long-lasting damage. Asset protection is the concept of legally using strategies, entities, planning tools, and insurance to protect your assets and family from litigation and frivolous lawsuits, and in today’s environment, identity theft.
Business Progression, Not Succession Planning
Families that own private businesses have unique opportunities and challenges. Deciding what to do with a privately owned business, how and when to do it, and why is one of the most difficult and complex transactions a family will experience. Most of the time it will be an unpleasant experience that causes severe and irreversible damage to the family. Again, detailed and complex planning with a family coach and strong team of advisors is necessary. Here are the statistics. “In a 2013 survey conducted by the Exit Planning Institute, 78% of business owners have no formal transition team, 83% have no written transition plan, and 49% have done no planning at all.”
Family Legacy & Philanthropy Planning
For Information on Planned Giving Programs for Charities Click this Link
If you want exceptional children, teach and model charity and compassion to them. The world and society encourages materialism and self-centeredness. Those children become unhappy, unsatisfied adults that, in many cases, self-destruct. You will pass the baton to heirs either while you are alive or after your death. Building and implementing a charitable foundation or utilizing philanthropic strategies while under your tutelage, can produce caring, loving, and joyful adults that can change your world. Philanthropy should be a cornerstone of every family’s purpose for existence, and a major catalyst for achieving family significance.
Concierge Services
Keeping good records is imperative to becoming successful and significant. If you don’t know where you are, you also don’t know where you will wind up. Businesses diligently maintain balance sheets and profit and loss records because they need to know if they are making progress towards their objectives. A business that does not keep good records is a business on its way out of business. It is the same for individuals and families. You may resist creating and maintaining a budget and tracking your expenditures, but not doing so means you are essentially lost. There is good software in the market and online that can make it relatively easy to maintain current and accurate records.
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You Can Have It All
By Kip Kolson
You’ve seen and heard the stories of dissension, fighting, greed, and legal actions when an inheritance is up for grabs. You may be thinking, “That won’t happen in our family.” Think again! It has been statistically proven that 70% of wealth is lost each time it transitions to the next generation. Two primary factors are loss of trust and breakdown in communications. Working with families of all sizes and levels of wealth, but especially with high net worth families for almost 25 years, Kip Kolson has learned that the only way to overcome these challenges is through a holistic, integrated financial and personal coaching program that builds a cohesive team of all living generations. He wrote this book to help families: Develop a shared family vision, mission, and purpose- Build strong family ties, teamwork, and legacy- Grow and protect family wealth through multiple generations- Ensure future generations can realize their financial needs and dreams- Retain family control over family enterprises and wealth- Experience the joy of helping causes they care about
” Train up a child in the way he should go and when
he is old he will not turn from it.”
Contact us or click the link below to learn how you can obtain a copy of Kip’s book, You Can Have it All; Wealth, Wisdom, and Purpose–Strategies for Creating a Lasting Legacy and Strong Family
Creating Your Family's Better Future
Contact Family Wealth Leadership Today
Contact Us
Located in Irvine, CA
Family Wealth Leadership
Headquarters
2 Venture, Suite 460
Irvine, CA 92618
T: (949) 468-2000
F: (949) 468-2020
Office Hours:
Monday – Friday 8:00am – 5:00pm
