Generational Planning And Trust Services

Estate Planning

At Private Wealth, we take estate planning seriously. Our in-house experts are dedicated to helping our clients understand the implications of their estate planning decisions, as well as the opportunities that may exist to make changes as life and priorities evolve. Estate planning conversations are not always easy, because the what-if scenarios of incapacity or death can be difficult to contemplate. But that is why those conversations are so important. Our team of experienced professionals understands and appreciates the complexity associated with estate and wealth transfer planning. Whether you are considering or have already implemented strategies such as Irrevocable Life Insurance Trusts, to Spousal Lifetime Access Trusts, to Intentionally Defective Grantor Trusts, we are here to help you navigate the personal, legal and tax implications of each with confidence. We work closely with you, your estate planning attorney and your tax advisor to ensure your wishes are accurately detailed in relevant documents and are implemented accordingly.

mult-generational family for generational planning


Multigenerational Wealth Planning

For many clients, establishing a legacy for their wealth is a priority. They wish to see the differences their wealth can make during their lifetime, and also establish a generational succession plan for those resources to serve a purpose for years to come. The success of your multigenerational legacy requires careful planning as well as clear communication around your intention. Our team has the experience and expertise to help you navigate the financial, legal and tax components of constructing a multigenerational wealth plan. In addition, we understand the qualitative decisions and communication necessary to bring these plans to life.

Our first priority is to ensure you are taken care of—that your lifetime financial needs are met. By quantifying what is necessary for today, we can better identify excess resources to be set aside for future generations. We then will work with you to understand how you wish to see those “future” resources deployed. We will collaborate with your legal and tax advisors to propose tools and generational planning strategies that best fit your circumstances, whether GRATs, IDGTs, GST Trusts or a combination thereof, to name a few.  

In addition to a keen focus on strategy, successful multigenerational planning requires clarity of vision and clear, ongoing communication. In fact, the single biggest factor to generational loss of wealth is lack of communication and trust among family members, followed by lack of preparedness by heirs.  

Talking about money is not easy. Careful consideration should be given to the message, the current level of knowledge and understanding of the intended audience, as well as the desired outcome of the communication. Communication of these matters does not have to be an all or nothing approach. Developing a communication plan and strategy that both informs and educates heirs and beneficiaries, prepares them to be good stewards of generational wealth, and balances the unique needs and circumstances of your situation requires its own process.  

Your Private Wealth advisor team, working in partnership with your other key advisors, is well positioned to help you not only understand the nuances of your wealth transfer plan, but also to work with you to develop a communication strategy around it.  We have the skills, knowledge and resources to guide you through it.


Trust Services

At Private Wealth, we understand how critical the right trustee is to the success of estate and wealth transfer plans. The trustee makes the tough calls on when and how to invest assets, whether a distribution of funds is permissible and balancing the needs of a beneficiary today against what is yet to come in the future. Our clients frequently engage professional trustees to oversee the complexities associated with trust management, from investment decisions and distribution policies to tax reporting. At Private Wealth we help our clients navigate the world of corporate trustees in a manner consistent with their needs, their assets and their family. As an independent advisory firm, we have the ability and flexibility to partner with trust companies of all sizes, and will partner with the fiduciary that best fits your needs.

Our fiduciary partner services include:

  • Administration of revocable and irrevocable trusts
  • Special needs trusts
  • Professional management of real estate, natural resources and closely held assets
  • Estate settlement 
  • Legacy trusts

Our fiduciary partner can serve in the following capacities:

  • Sole trustee
  • Co-trustee
  • Successor trustee
  • Agent for trustee
  • Directed trustee

The benefits of using a corporate trustee:

  • Professionals will step in upon your incapacity
  • Complexity may exist with major tax and family impact
  • Trusts may continue for many generations
  • Fiduciary responsibility and confidentiality
  • Financial reporting
  • Trust administration may be complex and time consuming

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