Family Legacy

How do we preserve our family legacy?

Situation Overview

John and Kaye were second generation family business owners. They felt a strong sense of stewardship over the resources that had been entrusted to them. The next generation was involved in the family business at various levels, yet a thoughtful legacy plan had not been established. In addition, some of the children were not active in the business and at times felt disconnected.


John and Kaye were referred to Capital Planning by close friends, their chief concerns were:

  • How do we preserve our family legacy?
  • How do we fully transition the business to the next generation?
  • How do we avoid the devastating effects of the excessive state and federal estate taxes?
  • What can be done about improving family communication and unity?
  • Our children have a strong work ethic, but how do we instill that in future generations?


We led John and Kaye’s family through the unique process of creating their FamilyPACT™, which would address their most pressing concerns.



Together, we helped John and Kaye create a Family Constitution, which consisted of their family vision, mission, values, and guiding principles statements. Their children were given input too, through facilitated family meetings. This document became the foundation for the family’s important decisions, communication, and the plan for preparing future generations.


The next step was to assess and align wealth, estate, and governance plans with the Family Constitution. It was agreed that a Family Office would be established to serve family members by creating pricing and access leverage for investment and wealth planning services. A best practice Board of Directors was constituted, which included three non-family members from industries that provided high value leadership to the company. A Family Council was created that would serve as the governing structure for the family office, retreats and meetings, foundations, and other family initiatives. An Executive Succession plan for the business was drafted, which provided confidence in transitioning the business to the next generation. Family Policies were established to provide clarity for the Family Council leadership. Estate Plans were updated that coordinated the family’s new and shared generational vision.



John and Kaye understood that one of the greatest challenges to the success of their family legacy was the lack of family unity. This had not been a problem in the past, but they wanted to be proactive in addressing this risk. A family retreats and meetings schedule was planned. The leadership of these meetings was to rotate between family members from a planning perspective. The purpose of this initiative was to promote family unity, conduct some business, share family folklore and history, create memories, and have fun.


Preparing heirs is an essential process in preserving the family legacy. Obviously, intentional and loving parenting is the foundation for every family. John and Kaye, in agreement with their children, wanted to make sure that the fourth generation, their grandchildren, was being mentored for leadership, entrepreneurship, and community service. The Age-Based Mentoring Template provided by Capital Planning was customized to meet their family objectives. Mentoring opportunities were planned for the family retreat. In addition, initiatives were scheduled to involve the grandchildren in the business at various stages, as well as charitable service projects in which all family members could participate.

Real Life Solutions are for educational purposes and are not actual clients. These case studies are based on similar circumstances experienced by our clients. To learn more about our process, see Family Legacy Services.


Family Legacy Plan

John & Kaye implemented a robust family legacy plan that will carry their wishes long into the generations to come.

Family Constitution - John and Kaye established a constitution that clearly stated the vision, mission, values, and guiding principles. This document provided the foundation for the family’s important decisions, communication, and the plan for preparing future generations.

Governance Plan - A board of directors, a family council, and a council of elders provided the best practice governance structure. Establishing the executive succession and family polices provided clarity for leadership. In addition, support systems were formalized for the family office, foundations, retreats and meetings, and family initiatives.

Family Communication Plan - Retreats and family meetings were scheduled to promote family unity, facilitate mentoring opportunities, share family history and values, conduct business, and have fun.

Family Training Plan – The Age-Based Mentoring Template, once completed, created an annual mentoring and initiatives schedule for leadership, entrepreneurship, and community service.

Proactive Wealth Management – Family members, through the Family Office, have access to Capital Planning’s wealth planning services that will monitor and update their individual personal financial plans.

  • Goals & Objectives
  • Cash Flow Planning
  • Compensation & Benefits
  • Investment Management
  • Tax Planning
  • Risk Management
  • Estate Planning
  • Wealth Administration

Experienced Advisory Team - The Capital Planning team is led by a seasoned financial advisor and supported by a dedicated client service associate. As needed, other team members are available that specializes in financial advising financial advising, portfolio administration, and investment research. Regular reviews will be conducted to make adjustments and update the family legacy plan.


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