Becoming a Better Parent By
Preserving Your TRUE Family Wealth
Summer is well on its way and while the kids are home with some free time, it’s the perfect time of year to sit back, reflect and embark on meaningful home projects.
It’s also a great opportunity to reflect on your family’s accomplishments, and in turn discuss your family's future. After all, you have your finances in order as tax season has come to a close, your children may be gearing up for college, and it might be your last quiet moment before summer ends and the busyness of the school year begins once more.
Future planning might not sound like the most relaxing thing to do while the kids are home, but planning for your children’s future goes way beyond college and financial planning. Of course, planning for your children’s financial security is imperative, but what about emotional security -the security that only your love and support can provide?
At our law firm, we create estate plans, which are made up of everything you own –personal possessions as well as your home, cars, bank accounts, insurance, furniture, and more. But your Family Wealth embodies much more than just your financial assets and physical possessions.
Family Wealth includes your purpose, passions, family values, memories and stories that make up your personal legacy. So after completing every estate plan, we conduct what we call Legacy Planning to make sure that along with all of our clients’ financial assets, their genuine family values are preserved and gifted to their children.
Here are a few ways you can do your own Legacy Planning this summer and how you can turn planning for your family’s future into a fun project for the whole family:
1. Create scrapbooks: Include photos, stories and momentous items like baseball game tickets. This is a great opportunity to save newspaper headlines to memorialize what was going on in our nation and the world at this point in your lives. You can create different scrapbooks to preserve cherished memories like a special trip you took together, a wonderful summer spent at the beach, or your child’s first school-year.
2. Shoot and edit Videos: Not just home videos, but also interviews of you and your spouse talking about the things you want your children to know about you, or how they were as kids - what their quirks were and the things they did that made you laugh (or made you crazy). Make sure to include music that is popular today!
3. Write Letters: What if you couldn’t be there on your daughter’s wedding day? As her parent, what advice would you give her? Writing letters to your children that can be handed to them on special days or during rites of passage can make those monumental moments all the more special. You can also create Journals to express and describe the values you want them to carry into the world. Imagine how special they’ll feel. Have the kids write you letters as well telling you what their year was like and what they wish to accomplish next year.
4. Make a Time Capsule together. Seal it, store it, and plan an event for 5-10 years down the road to open it.
5. Create a Family Book of Traditions: Include pictures of past events, why you cherish those traditions, and the importance of keeping them alive. Start a new summer tradition and write down why it's so important to your family.
Legacy Planning can serve as an invaluable tool that will make you a better parent during your life and ensure that your children will always feel your love and support.
Kids who feel loved as children grow up to be happier, more successful, better parents, and active members of society. Research has proven how much the feeling of being loved can help a child overcome difficult circumstances.
And although you will preserve your values, beliefs, and memories to better your family’s future through Legacy Planning, your parenting readiness will be immediately strengthened.
When you clarify the beliefs you want your children to carry into the world, you naturally become more conscious about your relationship with them now and more able to stay connected to yourself and what really matters in your journey as a parent.
To get started on your family planning, give us a call at (305) 860-8338 to schedule a call or a consultation.