On September 10, 2019, in honor of Legacy Private Trust Company’s 15-year anniversary, Dr. Thomas Deans presented a lecture to guests of Legacy Private Trust based on his bestselling book, Willing Wisdom. His insightful talk emphasized the importance of communicating openly about succession planning and intergenerational wealth transfer, and informed guests that Legacy can play an important role in this process. Having delivered more than 500 speeches on these and related subjects, Dr. Deans is an expert whose personal experience inspired him to share his wisdom in a thought-provoking and entertaining style.
According to Deans, society today is fascinated with wealth and what it can obtain for us, but finds it difficult to discuss death, and the two topics are inextricably connected. This trend is worsening, and families are doing themselves a disservice by shrouding their post-death plans in secrecy, or refusing to talk about them at all. Willing Wisdom addresses questions that family members must ask of each other to remain successful. Deans revealed that over half of Americans do not have a will; and those who do, often let it become outdated. This causes two significant problems: to perpetuate wealth, it must be properly transferred; and if it is not properly planned, inheritance has the power to destroy relationships and a family’s hard-earned prosperity.
Deans stressed the importance of sharing wisdom and providing structure for those who are left behind in the wake of death, rather than leaving confusion and chaos. He encourages communication and collaboration when discussing these issues with family, which can be difficult, but will ultimately benefit all involved. By speaking with your beneficiaries about your will, you can provide assurance to them, and they will have confidence when it comes time to execute your last wishes.
Advisors play a crucial role when it comes to estate planning. Their advocacy and guidance is important when crafting documents that will dictate the distribution of wealth after a death, and their ability to help facilitate conversations about essential subjects is invaluable. They are trained to attend to every detail so no aspect of your plan for your wealth is overlooked. Legacy engaged Dr. Deans because our singular business focus is to build and preserve wealth in an intelligent, compassionate, and personalized manner. Legacy’s advisors have the extensive experience necessary to guide you through life’s milestones, and assist your family however possible. Over the past 15 years, our professionals have served multiple generations of families, which has given us a unique understanding of how needs can change over time. Our ability to create solutions based on the evolving needs of any family or individual has made us a trusted partner in the estate planning process of our ever-growing list of clients.
We invite you to include us in your family conversations, and you can rest assured that our cohesive approach to your financial plan will be expertly managed to grow and change with your personal circumstance. If Legacy’s services can be helpful to you in any way, please visit our website at www.lptrust.com, or call our office at 920.967.5020.
Laurene Brooks joined Legacy in 2004, shortly after the company’s inception. She earned undergraduate degrees in journalism and Spanish, and her Juris Doctor (JD) designation from Marquette University. Laurene has over 30 years of experience in law and relationship management. In addition to assisting clients with financial management and estate planning, Laurene is Legacy’s senior fiduciary officer. In addition, she was a member of the Real Property, Probate, and Trust Division of the Wisconsin State Bar for 10 years and served as chair.
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