Wealth & Estate Planning Checklist

• Wills current and aligned with business succession
• Trust structures appropriate for your jurisdiction, tax position, and goals (family trusts, discretionary trusts, foundations)
• Insurance coverage adequate for liquidity needs
• Powers of attorney in place for incapacity scenarios
• Multi-jurisdiction considerations if family is international
• Professional advisors (lawyer, tax specialist, financial planner) engaged and coordinated

Without the legal infrastructure, all other planning is hope.

• Family constitution documented (values, expectations, decision-making)
• Family council or family office structure
• Rules for family members in the business (entry, performance, exit)
• Communication rhythm (quarterly family meetings, annual retreat)
• Professional mediator available for conflicts
• The legal structure protects assets; the governance structure protects relationships
• Many families preserve wealth and lose each other, the council prevents both outcomes

• Education in wealth management, business basics, philanthropy
• Exposure to responsibility (board observation, managing small investments, philanthropic projects)
• Mentorship from trusted advisors
• Values conversations: what is this wealth for, how should it serve the family, how should it serve beyond
• Psychological support for identity formation separate from inherited wealth
• Heirs who are unprepared for wealth destroy it; heirs who are prepared steward it and often grow it