Generational Planning

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A new generation of planning is emerging that will overcome the considerable challenges that we face in estate planning – Risk, Taxes, Regulations, Inflation and Depreciation. It is called Generational Planning (or Family or Legacy Planning). Generational Planning with life insurance now plays a key role in solving these challenges. With this approach, younger generations can preserve and enhance the value of the family, understanding that someday the legacy will be theirs. And older generations can use it to be the last gift of love that they pass on to their family.

During these changing and challenging economic times, we need to introduce new players to the field and redefine the financial process of estate planning. Current common retirement shortfalls combined with the inability to save has made time leverage an essential and powerful factor in planning. It is imperative to achieve financial goals in the least amount of time possible and it often becomes necessary to use someone else’s time to accomplish these goals, i.e., Generational Planning.

An interesting and unique dynamic about this process is that you may encounter multiple premium payers seeking to reach the common goal of preserving the financial integrity of the family. It will take money leverage to achieve these desired financial results, that is, using the least amount of money to create the most amount of wealth.

Now, it is difficult to overcome challenges that no one sees. Test this concept with your clients. Ask them if they are expecting an inheritance of $500,000.00 to $1 million? Give them a moment to think and respond and if they say no, ask “Why not?”.

We are aware of the glaring reality that in the financial service industry, hardly anyone is focusing on Generational Planning. Even though dedicated planners continue to do great work for their clients’ immediate families, they fail to see the opportunities offered in discussing Generational Planning with them. This failure results in lost opportunities, for both clients and planners.

It is our belief that because of our current economic challenges (stagnant incomes, retirement shortfalls, healthcare costs, education costs, taxes, regulations, inflation, etc.), Generational Planning will become the hybrid planning process of the future. As a Generational Planner, you will discover that you have been given a tremendous gift to create a Family Defined Benefit that will change a family’s financial structure far into the future.