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Planning with Values

| Oct 28, 2013 | Estate Planning

The path that we walk and the choices that we make are reflective of our values.  Most of us as parents and grandparents look at our children and grandchildren and hope that we can instill our beliefs and values into our family members.  We do that in our time together but we can also do that when our attention turns to our business and estate plans.

Often our clients come to us seeking guidance on how to bring children along in their business and guide them in a manner that increases the probability that the next generation will run the business with the same guiding principles that has made it a success.  They wonder if they will have enough time and if the student will be willing to accept the guidance.  Often entrepreneurs are so busy running their business that the real strategy they are employing is a simple hope that the children see how they are living out their values and catch the guidance by osmosis.

Similarly when clients come to us for estate planning it can be a web of complicated structures that seek to provide funds if and when needed, minimize taxes, protect assets, and gradually transfer control.  Sometimes lost in the structures are the very things that allowed the older generation to amass, and be responsible stewards of, their funds – their values.  The result can be an effective transfer of funds and other in-kind assets, but can there be a transfer of something greater?

As we have spent decades blessed with the opportunity to serve creative, energetic, value-oriented people, we marvel at their ingenuity, imagination and drive.  But in almost all of their stories, a common thread has emerged to us – they all have a strong set of values that contribute greatly to their success.

As a part of their ongoing Insight series, the Community Foundation of North Texas  is hosting a panel discussion that includes some ideas and case studies of how a family’s traditions and values can be effectively woven into an estate plan.  William L. Dismuke of the Firm will be one of the three presenting panelists.  If you would like to get more information or even attend this November 7, 2013 event, please contact the foundation office at 817.877.0702.

If you would like to instill more of your values into you plan, we can help.  Contact our office to delve into the type of planning that uniquely fits you and your family.

Community Foundation of North Texas