Originally published in Flourishing Mar Apr 2013
I’ve worked with many of you on legacy issues over the years, and I feel very good about that. So, lest you think I’ve become the cobbler with shoeless children, I want to give you an update on my own plans.
Linda and I have just updated our Durable Powers of Attorney and our Healthcare Powers of Attorney. We’ve had a meeting with our daughter, Janelle, who will be our agent/trustee in the event that both of us are incapacitated or dead. New wills and trusts are still being drafted, and here’s the thing you’ll most want to know:
“There will be a business continuation plan imbedded in those documents.”
That means that Family Wealth Management will outlive me, and our clients will not need to look for a new advisory relationship; though, of course, that decision will still be yours. You’ll also want to know that I’ve put incentives in place such that if they choose to do so, Dari and Alicia can remain with Family Wealth Management. Indeed, they may still run the place, much as they do now. That is certainly my hope and intention.
It’s hard to describe how I feel about all this. In one sense, I’m relieved to know that in the event of my death, Linda will receive a fair price for my business; but I’m not wildly enthusiastic about the idea of being prematurely dead. I still have big goals, not the least of which are to grow Family Wealth Management to five full-time employees, including two financial advisors, and to attend my grandchildren’s college graduations.
To achieve those goals and many others, my uppermost intention, naturally, is to remain alive, healthy, and working. Besides, when I look at my Social Security check and consider what Uncle Sam may do to salvage Medicare in the coming years, I wonder why I would ever want to retire.
So, if you’re willing to stick with me–and I fervently hope that you are – I’ll continue in this work that I do truly love, doing my best to help you and your families flourish. For a long, long time! mh
Helping Families Flourish 