ESTATE PLANNING – THE NEXT GENERATION
Preserving Legacies and Protecting Families from Real Life Problems
SAN DIEGO, California – Dealing with real life issues, such as divorce and second marriages, and passing on family traditions and values has often been overlooked in traditional estate planning. Traditional “bare bones” estate planning has focused only on financial wealth and what happens after death. But what about what happens during your life? Today, American families are realizing outdated, traditional estate planning methods are failing them and they want and need a more holistic approach to deal with today's issues.
The American Academy of Estate Planning Attorneys is responding to this outcry and is changing the way families plan. For years, the Academy and its members have focused on protecting families with real life issues while they are alive as well as protecting and passing on their financial wealth. Their new Legacy Wealth Planning method incorporates a holistic planning approach that helps families document and pass on not only financial assets but their non-financial wealth: values, wisdom, family history, their desires for the future and items with sentimental and emotional importance.
“This paradigm shift is a reaction to what families have been trying to safeguard for generations, unfortunately there has been a lack of focus in the estate planning field that encourages and documents this type of planning,” says Robert Armstrong, President and Co-Founder of The American Academy of Estate Planning Attorneys.
Legacy Wealth Planning offers more than a traditional “bare bones” estate plan by providing higher levels of protection for families through a Family Wealth Trust. It protects against real life issues that many families experience: Divorce and second marriage protection that safeguards an inheritance for the children in case a surviving spouse remarries, spendthrift provisions for the young or those inexperienced in managing financial assets and creditor protection. “Historically wealth is squandered within three generations. With the options we've made available, families are able to protect their heirs from future mistakes by being proactive years, and possibly generations, in advance,” says Armstrong.
“Our new holistic model is broken into four distinct areas for families to consider about the legacy they will pass on: Core Values, Life Experiences, Contribution to the Community and lastly Financial Assets” says Sanford Fisch, CEO and Co-Founder of the American Academy of Estate Planning Attorneys. “This new planning method protects the legacy and has a positive ‘pay it forward’ effect on the family and their community that will also impact future generations for years to come.”
The American Academy of Estate Planning Attorneys is the premier national organization promoting excellence in estate planning by providing member attorneys with the legal research and education it takes to serve consumers with the highest quality advice and estate plans.
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For further information please contact:
Erin Laverty
858-453-2128 x111
erin@aaepa.com
“When I joined the Academy in 1995, I had a business practice which included corporate and securities law, business litigation and estate planning. Upon joining the Academy, I mostly jettisoned everything except estate planning, which we dove into full bore. Within 90 days I had all the estate planning business I could handle. This would have been impossible without the Academy. They showed me how to set up staff and how to market. They gave me a superb client contact database which still allows me to access and use everything I could possibly want to know about all of our clients and prospects. They gave me the necessary training and tools to create estate planning documents that are without peer. At least twice a year at our events, they gave me quality education that is superior to what I could have received anywhere else because it was geared toward my specific practice, and delivered by speakers who understood my practice.”
Wes G. — Kentucky Member