9 Questions Wealthy Families Should Be Asking in 2018
Here we are passing through February into March already and settling in to a new year. Often, the new year means change to many making resolutions or setting goals, both personal and business.
For wealthy families, a new year brings renewed focus on investments, trends, and opportunities—and for those who have trusts—attention to how the trusts are currently being maintained, and how they will be protected and grow over the coming years.
One hidden truth with families is the wide-ranging experience and education levels with regard to the financial details and laws related to trusts. If you’re one of those family members and are reading this—be honest, your knowledge of intricate trust laws is probably limited at best. It’s probably not your background. But, make no mistake, it is a topic of interest to you—and you certainly want to know, and deserve to know, what’s happening to the family trust at a very detailed level.
As a company that routinely helps wealthy families and their trusted advisors find the answers and guidance they need to ensure that their trusts are being well-managed and well-maintained, we offer the following list of common questions that families should be asking their trust officers, legal and investment advisors about their trusts as we settle into 2018:
Read this list carefully. Share it with other family members. Call a meeting and ask these questions of your trust administrator and/or advisors. And make sure you’re getting complete, clear and satisfactory answers.
And let us know if you’re interested in exploring some of these in more detail. We’d be happy to participate in a call to share additional insight, answer other questions you might have, and explain why companies like Sterling Trustees exist to help family members stay well-informed about the details of their trust’s health and management.