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Managing Wealth Across Generations

CLIENT SITUATION

With five family branches, thirty-eight adults, twenty-one households, three living generations, and ninety-seven different trusts, one Abbot Downing client family had a lot to manage. The eldest living family members were in the third generation of wealth and were concerned that younger relatives wouldn't carefully steward assets or develop good work ethics.

OUR SOLUTION

Abbot Downing designed and facilitated a family meeting in which members identified the group's values and strengths, developing a vision for sustaining the family's wealth.

THE RESULT

With the team's help, the family decided to form a family investment enterprise to increase net returns. They identified and implemented appropriate annual trust withdrawals, and several households decided to coordinate their personal planning with the family enterprise.


DISCLOSURES

These materials are provided for general education and illustration purposes only. They were prepared by Abbot Downing and have been obtained or derived from information we consider reliable, but we cannot guarantee their accuracy or completeness. Abbot Downing does not undertake to advise you of any change in the information contained in these materials.

Wells Fargo & Company and its affiliates do not provide legal advice. Please consult your legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of you own situation at the time your taxes are prepared.