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Generational Disconnect - Hammond Iles Wealth Advisors

The Reality of Generational Disconnect

By Greg Hammond, CFP®, CPA Generational disconnect or differences exist in all families. Every generation develops its own style of expression, methods for handling conflict, and values. Even tech-savvy parents are likely to feel that virtual connecting and 24/7 technology lacks sufficient depth to replace face-to-face conversation. Kids, on the other hand, feel that Mom and Dad just don’t get it and can barely turn
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Legacy is a Powerful Word

Legacy is a Powerful Word

Your legacy can be joyful, tragic, or somewhere in between – but you get to choose which.
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Using Family Limited Partnerships

A Family Limited Partnership (FLP) is a limited partnership that families use to manage family enterprises and other family investments. The FLP has two classes of partners—general and limited. The general partners retain managerial and financial control over the partnership. Typically, once the senior family member(s) transfer the family assets into the Family Limited Partnership, they keep the general partnership i
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Your Family Story

How happy is your family? Do you communicate about what matters most? Do you truly know each other? Mere facts are meaningless until infused with significance. Your family’s passions, longing, failures, regrets, wins and learning are the fabric of life, and the stories that recall “life” are crucial to building a lasting legacy.
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PRESERVE YOUR LEGACY

Build Your Living Legacy While You Educate The Next Generation Early in your children’s lives, you can share your values, family history, and insights through light-hearted conversation and stories centered on the beliefs and decisions that shaped your successes, failures, and your vision for the future.
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When Grandparents Ask, I Tell Them This

There isn’t much grandparents won’t do for their grandchildren.  As financial advisors we are often asked, “How can I help my grandchildren after I’m gone? Can I build a legacy for them that will remind them of me and provide them additional security?”
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Charitable Giving: 5 Key Questions The Pros Ask

When you attain a level of financial security where you feel the freedom to devote resources to causes and organizations that you value, it’s worthwhile to take time to think, dream, and plan before you give. Reflecting on your underlying motivations to give can lead to more effective and focused philanthropy and ensure that you work toward achieving your desired legacy.
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2 Incredibly Effective Ways to Give During Retirement

  People sometimes think they should stop or reduce their charitable giving when they retire. There are many things to take into account when developing your retirement lifestyle plan. Among those considerations, you may take pride in helping organizations and causes near and dear to your heart, and want to continue your charitable giving throughout retirement.
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Teach Kids About Generosity

Generosity is a mindset and a way of life.  It’s about far more than just giving money, and it is a great tool to teach younger generations about legacy. Growing up, my father and I never really discussed being generous, but he showed me in so many small ways that it has become his living legacy―and now, I am making it my life’s work to share the message. It seems that lessons learned best are lessons pra
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Legacy Planning in 3 Steps

Legacy planning can be a win-win for everyone—it strengthens relationships and allows a person’s values to accompany the wealth he or she passes on to heirs or gives to charity. In this way, legacy planning is much more than a business transaction, and reaches beyond mere tax savings. We believe there are at least three basic, yet distinct steps in legacy planning:
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