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Keeping the Family Together in Virginia

FamiliesKeeping families together is the goal of every parent, rich or not. And while most people do not have the wealth of Tiger 21 members, they face similarly complicated issues when it comes to planning and talking to their children.

Every family is unique in its own way. Each also faces unique challenges. In the end, though, the singular goal of the parents leading just about every family is figuring how to keep it all together.  Whether rich or poor, homey or worldly, it’s about keeping the loved ones together and passing on the family wealth most efficiently. 

Whatever your station, you might learn a thing or two from the problems faced and solved by others. As the New York Times notes in a recent article titled “Looking for Ways to Keep Money From Dividing a Family,” you can especially learn from those who happen to be part of an exclusive club like Tiger 21.

Tiger 21 is a club of investors that happen to have $10 million to invest and recently met to discuss the very issues of estate planning and keeping the family together as detailed in the original article. As you would imagine, these are families with especially unique planning considerations and some complex ways of making it all happen. Their struggles and solutions, as a result, are all the more instructive.

The principal problems the members of this club face are powerful and not that different from any family's goals. For example, how do you pass on wealth and what conditions do you attach to it? How do you don’t avoid being overbearingly paternalistic while simultaneously establishing the family values you hold dear; how do you keep from spoiling the young?

So, how do you make your estate plan work? It has to be set on a solid legal ground and also understood in the familial way that it is intended. And just what will keep the family together? What will prevent infighting and actually keep the family members together as a core group?

There are some personal stories sprinkled throughout the original piece and, because your family is unique too, these are principals you may want to apply and questions you may want to ask of yourselves. How will you keep the family together?

You can learn more about this topic as well as other strategies on our website under the tab entitled: estate planning in Virginia. Be sure you also sign up for our complimentary e-newsletter so that you may be informed of all the latest issues that could affect you, your loved ones and your estate planning

Reference: The New York Times (March 21, 2014) “Looking for Ways to Keep Money From Dividing a Family

 

 

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We've been putting together as many resources as possible so that we can continue to help:

  • If you’re a current client with a signing appointment or a prospective client with a consultation and would prefer that meeting take place in your own home, we can accomplish that with a little bit of pre-planning on our part and with the addition of a laptop, smartphone, tablet or other computer in your home to facilitate this virtual meeting. For those of you that need to sign legal documents, that too can be accomplished with the use of a webcam (FaceTime etc.), so that we can witness and electronically notarize all of your important legal documents.
  • We launched the rollout of our on-demand webinar early so that new clients and our allied professionals can view the important component parts of ‘an estate plan that works’ at their convenience.  That is available on our website.
  • Live video workshops will be produced as quickly as possible and certainly ahead of our previous schedule; we will keep you posted as these events become available. Given the ‘boutique’ nature of the firm, we rarely have more than ten people in our office including team members at any one time. During this period of ‘social distancing,’ we promise to have no more than 8 people at any time.   This allows us to comply with the Governor’s directive to limit in-person gatherings.
  • The best way to communicate with us is still by phone during regular office hours of 8:30 to 5:00, Monday through Friday, or, you can email any of our team members (that is, their first name followed by @zarembalaw.com).  We will respond to these emails as quickly as possible.
  • Please continue to follow the directives of our local, state, and federal agencies. For your health and in consideration of our team who is assisting you, if you’ve scheduled an office appointment or planned to drop off paperwork and are experiencing a fever, dry cough, or shortness of breath, please contact your primary care doctor for guidance and then our office to reschedule.

Thank you, Walt and the Zaremba Team

Coronavirus/Covid-19
Update to our Process

The unprecedented coronavirus pandemic has taken our entire country by surprise. We understand how difficult this time is for America’s businesses and families.  However, we believe it is vitally important that we make every effort possible to continue to offer solutions that avoid disrupting our important partnership with you, your family and friends.  As you know, estate planning is not something that should wait for a more convenient time, therefore the opportunity to address your important goals both during and after this crisis should not wait.  To that end, we have added the option of a ‘virtual consultation’ to our office process.  You will now have a choice of either meeting with us in our office or in the comfort of your own home.