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Fort Myers Estate Planning Lawyer

Plan for Your Future Today

6 Ways Estate Planning Can Preserve Wealth for Future Generations

One of the greatest benefits of accumulating wealth is to help ensure the financial stability of future generations. This is also one of the greatest challenges wealth creators face. Fortunately, there are several estate planning strategies you can employ as part of your wealth succession planning, including:

Spendthrift trusts. Bequeathing large sums of money outright increases the chances that it could go to creditors, ex-spouses or an irresponsible heir. Creating a trust with a spendthrift clause helps guard against these potential calamities.

Dynasty trusts. Succession planning for your wealth means you need to think long-term. The use of dynasty trusts allows you to provide for direct heirs throughout their lifetimes as well as their heirs.

Family office. Using a business entity like an LLC allows you to manage and grow the family’s wealth over time.

Education. Pass on your values as well as your wealth by educating your heirs on the family finances and your wishes for the governance of the wealth that will be theirs one day.

Philanthropy. Having charitable giving as a family focus can help bind heirs together for a common purpose.

Advisors. Create a trusted group of advisors, including a financial planner and an estate planning attorney, to help you structure and administer your wealth plan.

For more information on wealth succession planning and other estate planning issues, contact our Fort Myers law firm.

Categories: Estate Planning
dorcey law firm
The Dorcey Law Firm, PLC - Fort Myers Attorney
Located at 10181 Six Mile Cypress Pkwy, Suite C, Fort Myers, FL 33966
Phone: (239) 330-6674
Local Phone: (239) 418-0169
Website: http://www.dorceylaw.com
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