General Education Services
No comprehensive multi-generational wealth management plan is effective if it is not communicated to successive generations.
Central State Financial LTD wealth advisors work with UHNW clients to imbue all family members with a deep-seated appreciation of the efforts that were expended in the creation of family wealth, and the importance of following a plan to maintain and grow that wealth. Without proper education and a general buy-in to a family’s values, an investor’s heirs might inadvertently dissipate the assets that required decades of work to acquire.
Central State Financial LTD consults with all of its UHNW clients to create knowledge bases that pass critical information from generation to generation. We help to instill respect for financial responsibility to an investor’s children and heirs. We work to overcome resistance to wealth management plans and to avoid profligacy that might arise when succeeding generations lose respect for the efforts that created the foundation for their good fortune. As with all of our services, each educational plan that we help to devise accounts for individual differences among investors and their children and heirs.
Our recommended strategies might include trusts and other systems that provide regular allowances, adjustments to those allowances based on the recipient’s compliance with certain conditions, and education on budgeting and intelligent use of personal funds.
We also establish alarms to alert investors when their goals and desires have gone off track. We protect children and heirs from financial predators that seek to take advantage of naïveté or lack of insights, and we instill respect for social responsibility to deflect public or private criticism that can adversely impact a family’s overall sense of unity.
Central State Financial LTD Approach to the Effective and Efficient Use of Surplus Assets
Notwithstanding the disciplined approach that Central State Financial LTD advisors adopt toward multi-generational wealth, we understand and appreciate that UHNW investors and their families deserve to enjoy the benefits of their hard-won success. Our services include advice on using surplus assets for the most effective and productive purposes. Our advisors assume the role of a chief financial officer to manage surplus family assets, and to help family members decide on the best uses of those funds.
In many situations, our advisors recommend tax efficient strategies that pass funds as gifts through several generations. UHNW investors and their families often use these and other strategies to manage and control capital gains and to make insurance payments and other arrangements for long-term health care. When surplus assets are managed under the rubric of a total family office wealth plan, an investor can avoid unanticipated tax consequences and adverse tax effects that can accompany money transfers.