How Can I Preserve Wealth for Future Generations?
Some of our clients are interested in preserving wealth for future generations, and in that instance, we sometimes recommend starting a family bank.
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A family bank is an estate planning tactic to help preserve wealth for generations to come. They can be structured in a variety of ways to meet that family’s needs, however, they are intended to help benefit a group of family members.
If our clients give their children distributions at their death, it is usually gone quickly. Even if the child invests the money, it does not really transfer to future generations.
The family bank is an incredibly useful tool.
Our clients with family banks are able to charge less interest for loans, set different policies than