Estate planning is gnarly. Having a traditional estate plan is vital – but even that does not always prevent a family battle, often over heirloom objects of more sentimental than monetary value.
Many professional planners worry the most about helping their client divide the money up “fairly.” But there are family traditions and values that go beyond money. Making sure that antiques, traditions, heirlooms, and even homes are handed down to the people who will most appreciate them can be a challenge for any family – especially extremely wealthy ones.
This is where the A+ LIFE Pentagon comes in. It is a web-based software solution designed to define, preserve and perpetuate More Than Money assets like family traditions, legacy, philanthropy and core values, and to help professional advisors acquire and retrain high net worth clients. This software allows, though a centralized dashboard, the correlation and tracking of those things which make a family truly who they are. This can then be used to provide personalized estate planning designed not just to “distribute things fairly” but to, as much as is possible, make everyone happy with the results.
Using Aspida360’s A+ LIFE Pentagon software does not eliminate the risk of an estate plan failing and acrimony resulting, but it can significantly reduce it. It can also help an advisor build and maintain multi-generational relationships and keep a family as a client even after the original head of the family is deceased. Retaining clients becomes even more important when working with these high value clients who each require a lot of an advisor’s time.
Aspida360 has experience in advising HNW families and has learned that net worth is more than just a balance sheet. Keeping that worth through the generations requires knowing where it truly lies.