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F amily Wealth Management.
The Challenge
You and your spouse have accumulated significant wealth, both through family inheritances and your own business acumen. Your teenage children will soon be eligible to withdraw substantial assets from family trusts. Also, in the event of your untimely deaths, the children would become responsible for assets exceeding $50 million. You have not, however, discussed wealth responsibility issues with your children.
Our Solution
We propose a series of meetings with you and your children, where Hawthorn’ wealth management professionals will discuss with the children their responsibilities regarding the wealth they will inherit. We also recommend that the children establish irrevocable Delaware Asset Protection Trusts when they reach age 18 to receive assets that otherwise would be distributed to them outright. By naming PNC Bank, Delaware as corporate trustee, the children and their descendants will benefit from our investment expertise and learn about investment options through a long-standing relationship with a trusted advisor.
Customer Benefit
Hawthorn brings the discretion gained from its long history of family wealth management to this relationship in encouraging this family to discuss financial issues and educating the next generation about the responsibilities and opportunities of substantial wealth. |
