大财富转移的五个可行步骤

Private WealthManagementwilliamblair.com 2|THE GRE AT WE ALTH TR ANSFER: FI V E AC TION ABLE S TEPSFive Steps to Take to Prepare Yourself and Your Familyhave, where they’re held, and who the beneficiaries are?”If you’re preparing to receive wealth, you'll want yourholdings structured properly before adding new assetsinto the mix. Take inventory of what you have to create acoordinated approach to transferring wealth.Engage in Financial PlanningFor both givers and recipients of wealth, one of the bestways to understand your current circumstances is tocreate a financial plan with your wealth advisor. You shouldhave a solid understanding of your personal net worthstatement, including what you own, what you owe, howit is valued, and how assets are titled. It’s also helpful tolook at the asset allocation across all your accounts to seewhat is allocated to various asset classes. This helps youunderstand how your portfolio might perform in differentmarket environments.Regarding cash flow, consider where your money comesfrom and where it goes. If someone asked you how muchyou spend every month, would you know the answer? It’soften helpful to create a budget and set aside time to takeinventory of your income and expenses. Then, your wealthadvisor can look at long-term cash flow projections toensure your savings and investments are on track to meetyour goals. Regardless of asset size, it can be beneficial tounderstand the difference between both your core andsurplus wealth. Core wealth refers to your fundamentalassets and strategies, while surplus wealth includes anyadditional assets.If you are expecting to inherit wealth, your financial planshould be robust enough to stand independently withoutrelying on an inheritance. What you believe you mayinherit may not always come to fruition. Whether you’retransferring or receiving wealth, understand and reviewyour long-term financial plans to accurately assess yourcurrent situation and determine next steps to accomplishyour financial goals.The Great Wealth Transfer refers to the largest flow ofgenerational capital ever seen in history. Through 2048,an estimated $124 trillion in wealth is expected to passfrom older to younger generations in the U.S.1 Most ofthis wealth will come from baby boomers, born in the U.S.between 1946 and 1964, and the silent generation, bornbetween 1928 and 1945. Additionally, $50 trillion will passlaterally to surviving spouses, the large majority of whomwill be women, before making its way down to children.With the Great Wealth Transfer comes responsibilityfor both the owners and inheritors of wealth. Oldergenerations should ensure their financial affairs areorganized and well-positioned to maximize tax andestate planning opportunities. In comparison, youngergenerations should know how to invest, grow, and enjoywealth responsibly to preserve it for future generations.Five Steps to Take to Prepare Yourself and Your FamilyWhile the Great Wealth Transfer will peak in the comingyears, it’s not just something to expect in the future—it'shappening now. Trillions of dollars are changing handseach year, and preparation for this transition is essential.We outline key considerations and steps to take to readyyourself and your family for the largest transfer of wealthin history.Build a Strong FoundationThe first step in building a strong foundation is making sureyour own financial affairs are in order. Manage your financialaffairs with clear goals and a plan of action. Goals shouldbe both short and long term, with the aim of helping youbuild wealth, plan for a comfortable future, and engage inthoughtful legacy planning. Goals can also help identify thepurpose of your capital and what you’re trying to accomplishwith your wealth.Another aspect of having a strong financial foundation isbeing organized. If you’re preparing to transfer wealth, askyourself, “Have I shared important information with thenext generation? Do they know what types of accounts I1Cerulli Associates. “Cerulli Anticipates $124 Trillion in Wealth Will Transfer Through 2048.” https://www.cerulli.com/press-releases/cerulli-anticipates-124-trillion-in-wealth-will-transfer-through-2048. WILLI A M BL A IR PRI VATE WE A LTH M A N AGEMENT |Five Steps to Take to Prepare Yourself and Your Family(continued)Protect What You Have AccumulatedAfter you’ve defined your goals, organized your financialaffairs, and created a financial plan, it’s time to protect whatyou have accumulated. Assess your investment risk toleranceand understand how much volatility you’re comfortablewith in your investments. Confirm that your personal risktolerance and risk capacity match your asset allocation.Your portfolio should not be overexposed to market risk, orconversely, too conservative to meet your goals.Protection also involves managing risk through properinsurance coverage, such as life, disability, or umbrellainsurance or long-term care coverage. These policies canshield your assets against events that could derail you