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THE PURPOSE OF LIFE IS TO CREATE THINGS THAT WILL OUTLAST IT. © 2005 Family Legacy Planning Specialists. All rights reserved.

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Presentation on theme: "THE PURPOSE OF LIFE IS TO CREATE THINGS THAT WILL OUTLAST IT. © 2005 Family Legacy Planning Specialists. All rights reserved."— Presentation transcript:

1 THE PURPOSE OF LIFE IS TO CREATE THINGS THAT WILL OUTLAST IT. © 2005 Family Legacy Planning Specialists. All rights reserved.

2 Family Legacy Planning Specialists™: 1.Transforms family legacies from the oral to the written tradition through a family vision statement 2.Communicates the written tradition along with values and visions to succeeding generations through an initial and on-going family council 3.Empowers succeeding generations to learn incentives and charity among themselves & others 4.Amplifies and enriches traditional estate planning (technical forms, documents, wills & trusts, charitable intentions) during life, not after life 5.Focuses on the fullness of living & family, not the emptiness of leaving ONLY an estate

3 © 2005 Family Legacy Planning Specialists. All rights reserved. Value of Written, Communicated, and Empowered Family Legacy: 1.Stops permanently the inherent loss of memories, customs, and values “preserved” by oral traditions 2.Formalizes relationships between generations 3.Focuses on utilizing the strengths of each generation 4.Encourages reciprocal mentoring between generations 5.Permits older generations to “let go” of control 6.Empowers younger generations to embrace and live the inclusive majesty of their family legacy 7.Communicates in writing to their advisory team the clients’ values, visions, structure for family interaction, and general financial objectives, which includes charitable inclinations and family member incentives 8.Passes family values along with family valuables

4 © 2005 Family Legacy Planning Specialists. All rights reserved. Why Is The Written Family Legacy Valuable? SIGNIFICANCE !! “This is mankind’s age-old dilemma in the face of death: what man really fears is not so much extinction, but extinction with insignificance. Man wants to know that his life has somehow counted, that it has left a trace, a trace that has meaning; its effects must remain alive in eternity some way.” Ernest Becker - Pulitzer Prize Winning Author

5 © 2005 Family Legacy Planning Specialists. All rights reserved. For Which Family Members Is Family Legacy Planning Most Appropriate?  Those who genuinely care about others more than themselves  Those who are continually developing and refining their visions  Those who are interdependent regarding their affairs & seek the wisdom of a professional team of advisors  Those who have a passion for wanting SIGNIFICANCE !!

6 © 2005 Family Legacy Planning Specialists. All rights reserved. Client Appropriateness: Continued  Age: 50 & older; may be younger, not usually Net worth: $3 million minimum; however, could go down to $1.5 million depending upon their psychographics Net annual income: Should exceed expenses by at least 35%

7 © 2005 Family Legacy Planning Specialists. All rights reserved. The Heritage Process™: How the Family Legacy Planning Specialist™ Works: Parts I, II, & III require an average of 200 hours.

8 © 2005 Family Legacy Planning Specialists. All rights reserved. Initial Presentation Steps: 1. Trusted third party (TTP) of prospective clients suggests they both read Beating the Midas Curse. Complimentary copy provided. 2. As a result, they inform TTP that they do or do not want to proceed further with their due diligence about Family Legacy Planning Specialists (FLPS). If they do not, they retain their anonymity. 3. If the prospective clients do want to investigate further, a meeting is arranged with FLPS, the TTP, and them. Agenda: FLPS asks them ten sequential questions. Then, clients ask FLPS what they need to know to be comfortable with proceeding. If they are, FLPS conducts 2-3 hours of Guided Discovery at no cost or obligation to assess their general situation so the FLPS’s fee can be determined. An engagement arrangement is offered to the prospective clients. At their earliest convenience, they decide if they want to engage and pay the fee. If they do, they schedule for continuing their Guided Discovery experience.

9 © 2005 Family Legacy Planning Specialists. All rights reserved. Guided Discovery Experience: Definition: A conversation during which one is guided by another to learn from his/her own experiences. Protocol: Will not invade your private lives; will avoid unresolved personal issues; has boundaries Confidential – personally and professionally No financial information discussed If question happens to be sensitive, just say, “No”

10 © 2005 Family Legacy Planning Specialists. All rights reserved. Guided Discovery Experience Continued: No judging intended Tape recorder is used because it is the best record keeper. Confidential. Clients control the tape and its transcription. Vision statement is drafted from the transcription. Clients may clarify, modify, or delete any part of transcription Conversation will likely require more than one meeting

11 © 2005 Family Legacy Planning Specialists. All rights reserved. STANDARD VISION STATEMENT FAMILY VISION STATEMENT: A MEANINGFUL AND COMPELLING STATEMENT OF YOUR STORY AND VALUES COUPLED WITH YOUR VISION FOR SHARING THOSE VALUES WITH FUTURE GENERATIONS.  Its Purpose  The Story Behind Our Wealth Accumulation  Our Order of Financial Objectives  Our Estate Plan and our Children’s Role of Using Their Inheritance to Pursue Our Vision and to Create Their Vision  Our Definition of Wealth and the Desired Effects That Their Inheritance Will Have on Our Children  Balancing Our Children’s Inheritance with Their Charitable Inheritance  Family Continuity Mission Statement  Governance by Family Charter  Family Council

12 © 2005 Family Legacy Planning Specialists. All rights reserved. Client Advisory Team Supported by Family Legacy Planning Specialist™ Insurance Advisor Legal Advisor Tax Advisor Investment Advisor Financial Advisor Local TeamNational Team Real Estate Advisor Philanthropic Advisor Trust Officer Family Legacy Planning Specialist™ Client

13 © 2005 Family Legacy Planning Specialists. All rights reserved. Family Retreat : Definition: Special family event that provides opportunities for implementing a family governance structure, broadening the family leadership base, strengthening family commitments, and passing on family values.  May take place on Saturday at home, a weekend at the family cabin, or a week in Cancun.  Establishes the Family Council, which is a family forum where all family members participate in activities, events, and experiences to promote family unity, family values, and family traditions.  Family Council operates according to Family Charter & By- Laws, which are the formal set of rules and regulations adopted by the members.

14 © 2005 Family Legacy Planning Specialists. All rights reserved. Minimum Fees for Family Legacy Planning SectionFee I. Guided Discovery & Vision Statement $20,000 II. Team Planning & Implementation $20,000 III. Family Retreat $20,000 IV. Ongoing Family Council $20,000 Note: 1.Clients are not required to engage in all the parts. 2.Other advisors’ fees would be in addition to ours. 3.Final fees determined by criteria contained in our Engagement Arrangements. See for details.

15 © 2005 Family Legacy Planning Specialists. All rights reserved. The Heritage Process™: How the Family Legacy Planning Specialist™ Works: Parts I, II, & III require an average of 200 hours.

16 © 2005 Family Legacy Planning Specialists. All rights reserved. Guarantee: If not satisfied, the entire fee for that part of The Heritage Process™ will be contributed to charity: 50% will go to the client’s charity of choice; 50% will go to our charity of choice.

17 © 2005 Family Legacy Planning Specialists. All rights reserved. Do You Want to Contact Some Family Legacy Planning Clients? If so, feel free to call the following Monday through Friday during working hours: Kenneth A. Caines: (319) Glenn C. Davison: (319)

18 Questions? © 2005 Family Legacy Planning Specialists. All rights reserved.

19 PROFESSIONAL PROFILE Larry L. Van Oort, CWC™ CFP®, Principal with Family Legacy Planning Specialists, lives in Cedar Falls, Iowa, where he began advising individuals, families, and businesses with their planning needs over 20 years ago. Today, Larry travels the country helping clients discover important emotional insights and understandings relating to their personal values that contributed to their success. This critical wisdom can now be permanently passed down to succeeding generations along with the physical evidence of their success (their money).  He begins with Guided Discovery™, the process of learning during which you are guided by another to learn from your own experiences.. It is the foundation of a comprehensive legacy planning expertise called The Heritage Process™; an extensive individualized and unique planning experience that helps individuals first determine what is most important to them along with the people that they care about and then assists clients with that information for crafting their family vision statement.  The family vision statement provides the needed guidance for family members, both now and in the future, as well as to the other specialists charged with wisely managing, preserving, and protecting the family’s resources. It preserves the family’s deepest meaning through a written tradition so that their significance is not lost to history but instead provides a baseline for effectively mentoring their children and empowering the many generations that will follow.  His guide star for best achieving these goals is summarized in his mission statement:  “I focus on providing value by helping caring people enunciate their dreams and by determining how their financial resources can support them. Then I assist them in achieving their desired outcome for themselves, their loved ones, and the causes they care about.” ~Larry L. Van Oort  These are some of the values Larry provides his clients:  Helps them discover and define the lives they want.  Quantifies and confirms their families’ financial security.  Assists them in building their vision statement for clarifying the rest of their lives and the lives of generations that follow.  Functions as a mentor/coach for the clients’ advisory team, which is charged with assisting the realization of their clients’ dreams.  Creates the peace of mind clients are seeking.  Personal:  Larry is married to his wife, Pat, for over forty years. They have three children: Tony, Ann, and Stratton along with their son- in-law, Brad, and three grandchildren, Josie, Calli, and Katie. In his spare time he enjoys reading as well as boating and fishing on the upper Mississippi River valley with his family and friends and is also involved in church, civic, and community organizations.  Education & Professional:  Mr. Van Oort earned his BA and MA in English from the University of Northern Iowa. After successfully teaching English and coaching football at the high school and community college levels, Larry entered financial planning over twenty years ago where he has been helping individuals, families, and organizations reach their desired financial objectives. Always a seeker of personal and professional growth, Larry is a Certified Wealth Consultant™ with The Heritage Institute (www.theheritageinstitute.com) and is also a Certified Financial Planner®.www.theheritageinstitute.com


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