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Family Engagement Fundamentals Summary

Key Points

  • Families typically want to encourage responsible and sustainable lifestyles for their children so that wealth does not become a dependency
  • Creating an open forum of communication and navigating complex issues together provides an opportunity to prepare the next generation to sustain your family’s wealth

Three practices that many successful families have employed to help future generations assume the responsibilities of managing and stewarding the family wealth:

  • Fostering family synergy through communication
  • Creating family bonds through giving
  • Identifying and mitigating risks
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previous: Identifying and Mitigating Risks

Contact

To determine how Wealth Compass can help meet your objectives, please contact National Director of Family Legacy Strategies Marguerite Weese or your Wilmington Trust advisor.

The Wealth Compass series is provided for educational purposes only, providing a high-level introduction to investing concepts and terminology. It is not intended to provide all of the nuances of strategies that may be available in the marketplace; thus descriptions of features, risks, and potential benefits are intended to be generally representative and not comprehensive.

Similarly, this material is not intended as an offer, recommendation or solicitation for the sale of any financial product or service or as a determination that any investment strategy is suitable for a specific investor. Investors should seek financial advice regarding the suitability of any investment strategy based on the investor’s objectives, financial situation and particular needs. The investments or investment strategies discussed herein may not be suitable for every investor. There is no assurance that any investment strategy will be successful.

Opinions, estimates and projections constitute the judgment of Wilmington Trust and are subject to change without notice. Third party information incorporated into these materials has been obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed.

Investment products are not insured by the FDIC or any other governmental agency, are not deposits of or other obligations of or guaranteed by Wilmington Trust, M&T, or any other bank or entity, and are subject to risks, including a possible loss of the principal amount invested.

Wilmington Trust is a registered service mark used in connection with various fiduciary and non-fiduciary services offered by certain subsidiaries of M&T Bank Corporation including, but not limited to, Manufacturers & Traders Trust Company (M&T Bank), Wilmington Trust Company (WTC) operating in Delaware only, Wilmington Trust, N.A. (WTNA), Wilmington Trust Investment Advisors, Inc. (WTIA), Wilmington Funds Management Corporation (WFMC), and Wilmington Trust Investment Management, LLC (WTIM). Such services include trustee, custodial, agency, investment management, and other services. Loans, credit cards, retail and business deposits, and other business and personal banking services and products are offered by M&T Bank, member FDIC.

© M&T Bank Corporation and its subsidiaries. All rights reserved.

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