Will Your Estate Plan Result in a Touchdown or a Fumble?

Is a good offense the best defense? It’s an often-debated question. Football fans are divided along the line of scrimmage. Some attribute a win to a good offense. Others credit a good defense.

Most fans would agree, however, that both are needed. Both offense and defense contribute to the overall goal of winning games and championships. 

You need the same game plan in achieving wealth. If you focus only on defense you will probably come up short on the scoreboard. And a hyper-intense focus toward offense alone is not a winning strategy. 

As any champion would agree - in sports or life - balance is the key to accomplishing your goals, especially achieving wealth. Balance also governs how you will protect the future of your wealth.

Let’s look at why defensive strategies are usually the focus of most planning.  

Defense Alone is Not Enough 

Most estate plans focus on creating a set of documents: that protect your wealth, transfer property at your death, and reduce your tax liability. All of which focus on defending as much of your wealth as possible. 

That is not a bad strategy, but sometimes it can be incomplete.   

How many games and championships are won only with the defense on the field? 

If your goal is to win games and championships, you need to consider a balance of offensive and defensive strategies.  

Offense + Defense Leads to Success 🏈

To build your legacy, if the defense is defending reactively, then the offense must be more proactive. There are certain situations where proactively moving forward is the best approach. 

Consider, the rising generations in your family. The best way to ensure they will score a touchdown with your wealth (in their generation) is proactive preparation.

As you likely are aware, achieving wealth long-term is rare. Unprepared heirs are one of the main reasons 80% of family wealth dissipates so quickly.

In addition, 70% of estate plans unravel after a transition of wealth. That just compounds the need to proactively prepare heirs. Reacting defensively could be very costly financially, causing pain for your family in the future. 

Prosperis Partners helps prepare heirs. We offer our signature service, Family Capital Management, to help you proactively take steps now to ensure your financial resources serve your family and the rising generation. 

If your estate plan was a gridiron, your financial resources are the football 🏈 and your prepared heirs are the offense, who move the ball forward.

Without prepared heirs, a drive to the end zone will most likely turn into a fumble. The IRS or a disgruntled former spouse could intercept. A touchdown for the opposition is not a part of your Wealth Success plan.

Ultimately, future generations move your legacy forward and ensure that your resources serve your family.
That's the equivalent of a family championship. 

Post game thoughts 

Now is the time to consider the future of your wealth. Family Capital helps you move forward in achieving wealth through balancing strategy between offense and defense.  

From preparing heirs to making sure each trust has a trustee - who is ready, willing, and able - we ensure you are able to enjoy the peace of mind Prosperis offers.

We make sure your rising generations are capable and prepared to score as many touchdowns - thriving relationships and resources - as possible.

Call or click today and move toward a game plan that helps you achieve lasting wealth.

Click here for additional reading to prepare for achieving wealth.