CONVENTIONAL WISDOM is a belief embraced by an entire community or group of people. It is the known way of achieving a particular result. If everyone is doing it, it must be the right way, or perhaps the only way; most people arrived at uncanny financial success by straying from the pack.
Whether it was an unusual idea or unusual work ethic,
you stepped to the left of everyone else and pushed ahead.
Having amassed wealth, conventional wisdom tells you to plan for the use of your wealth the same way everyone else has done for centuries. Why? Is it the only way? Is it the ideal way? Why restrict your thinking to the status quo? You can rally the talents and wisdom that helped you create financial success and use them to make sure your wealth has a positive impact on your family.
IT IS FUNDAMENTALLY IMPOSSIBLE to teach children who have grown up with wealth how it feels to grow up without it, however, we can teach them something far more valuable. We can demonstrate that the family's true net worth is far bigger than the items listed on a financial balance sheet. The true worth of the family is its collective experiences.
We can inventory the family assets of wisdom, expertise and experience.
We can document their value and catalogue their availability. We can create traditions and behavior patterns for preservation and growth of these assets, and we can ensure these assets are the underpinning of family communication and relationships.
CREATE A SCENE IN YOUR MIND: Picture your family gathered around the fireplace fifty years from now. What's your ideal vision for how they relate to each other and live in the world? Now picture your family's wealth. How is money impacting the scene? Are they merely living in a bigger house with more expensive cars parked in the driveway, or are they rallied around philanthropy as a topic of family meetings and outings?
Your actions today will influence their tomorrows.
It won't happen by accident but it can happen with intention and process. Facilitating open dialogue is the starting point. In the absence of intentional communication, people make up their own stories. Your words can make a difference.
BECAUSE YOU HAVE AMASSED WEALTH, people are watching. They notice your choices, your behaviors and even your children's choices. This experience of being under society's magnifying glass offers a positive opportunity. Money offers leverage and momentum in the lives of your family members and the causes in your community.
Someone has to take the leadership role to point it in the right direction.
If you create collective intent and common vision for your family's use of wealth and take action toward those goals-you can harness the power of private wealth's ability to affect change. Your family can model key behaviors publicly, thereby mentoring entire communities.
SO MANY PLANNING CONVERSATIONS focus on the after-death impact on family and the world. There is irony in this vantage point: You spend a lifetime creating wealth, success and relationships, yet when asked to plan for the impact of these achievements and experiences, you must fast-forward three or four decades and look at legacy as starting after you're gone. What about now?
True legacy work offers a chance to hit it out of the park
with wealth and family, just as you have in your business.
A chance to harness the power of the present and be a participant as it unfolds. All it takes is an unhindered belief in possibilities: The simplicity of a childlike psyche, a return to a world without limits, a methodology for shifting your thinking from Why - to Why Not?
At Del Monte Group, we utilize proven methodology to help you apply the talent and acumen you have demonstrated in your financial success to an entirely new unit of measure for evaluating success in family wealth. This is the place of possibility, where wealth has a clearly defined purpose; where it is certain to enhance the lives of the family members; where fear, worry and disconnect are replaced by strength, confidence and communication.
A four-step process for creating profound
outcomes for yourself and your family
At a fundamental level, people crave connection through family relationships; however, life happens and separation occurs. We believe that it is difficult to see possibilities because it is difficult to recognize one's own capacity to influence or create a different family dynamic.
Together, our process begins by documenting the wisdom that you have accumulated over your lifetime — your fundamental capabilities. We work through a four-step relational process to apply these core talents to creating or enhancing specific relationships or overall family dynamics. Ultimately you gain the ability and structure to influence the next generation of family leadership. We believe it's never too late, nobody's too old and there's always a place for new possibilities.
Richard M. Del Monte CWC, CFP®
Richard lives in Alamo, California with his wife, Ingrid. They have three daughters and two sons.
Angela M. Wright MBA
Chief Operating Officer
Angela lives in San Francisco, and enjoys running, practicing yoga and cooking. Angela gives back to her community by supporting The San Francisco Food Bank, The Down Syndrome Connection of the East Bay, and The Princess Project.
Christopher S. Hughes
Associate Wealth Advisor
Chris lives in San Francisco, and enjoys playing soccer for the Olympic club. Chris gives back to his community by serving as a Big Brother for Big Brothers Big Sisters of the Bay Area.
Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.
Why Your Estate Plan is Going to Fail
Learn why 70% of estates fail to transfer successfully and what steps you can take to protect your family's wealth.
The Art and Science of the
Consider a family philanthropy project.
Mentors in Life & Money
Adding a human element to the passing of wealth.
Trusts and Estates:
June Issue 2010
The future of estate planning. Prepare heirs to receive and manage the assests they inherit.
Trusts and Estates Interview
Publisher of Trusts and Estates Magazine chats with Richard Del Monte
WATCH VIDEO (YouTube)
Multi-generational Family Coaching
Richard Del Monte is heard on American Dreams speaking about multi-generational family coaching and how to prepare your heirs for the roles and responsibilities that they will inherit.
What is done?
Why are so many affluent families walking around with ill-equipped or incomplete planning?
The Family Balance Sheet
A simple process for capturing your people assets.
A Tale of Two Families
Two of the greatest family fortunes were created in the 19th century. One family thrives to this day. The other collapsed.
Del Monte Group
75 Golden Meadow Lane
Subscribe to our complimentary eNewsletters
Market Updates & Quarterly Commentary:
Stay updated on important investment and economic news from a perspective of possibilty.
Frequency: Based on market activity, but never more than weekly.
Multi-Generational Planning Newsletter:
Learn about the importance of Multi-Generational planning. These letters discuss ideas relevant to values-based multi-generational wealth transfers, and often include discussion topics for your family.
We value your privacy!
We will never share your information and you can quickly unsubscribe anytime.