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Financial Planning for Families

A brief guide to thinking about your wealth and legacy.

  • By JL Bainbridge Family Wealth Advisors
  • | 12:00 a.m. July 25, 2024
  • East County
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Building a lasting financial legacy is more than just accumulating wealth—it’s about creating a roadmap for your family’s future. Yet, many families stumble in this crucial task. Common pitfalls include procrastination, poor communication, and neglecting financial education for younger generations. Some create inflexible plans that can’t adapt to life’s changes, while others overlook tax implications or focus solely on monetary assets, ignoring the value of shared principles and life lessons.

“Your legacy isn’t just about money. It’s about family values as well.” — John B. Leeming, CFP® President at JL Bainbridge

Successful legacy building starts with open family discussions about financial goals and values. It involves reviewing investment strategies and following plans that cover retirement, long-term care, and even estate planning needs. More than anything, it requires a multi-generational vision. Also important: don’t underestimate increased life expectancies or the complexities of wealth transfer.

Remember, your legacy isn’t just about money. It’s about equipping future generations with financial wisdom, shared values, and the tools to build upon what you’ve started.

JL Bainbridge is an independent Sarasota-based family wealth management firm. For 43 years, they have been helping clients manage and control their financial well-being before and throughout retirement.

To learn more about JL Bainbridge, call (941) 356-3435 or visit jlbainbridge.com.

Disclosure: This information is for educational and informative purposes and should not be considered a recommendation. Investment advisory services are only available to those who become our clients through a written agreement. JL Bainbridge is a registered investment adviser. J.L. Bainbridge & Co., Inc., is not a broker dealer and does not offer tax or legal advice. Please consult your tax or legal advisor for assistance regarding your individual situation. It should neither be assumed that future results will be as profitable or that a loss could not be incurred. For more information on our firm and our investment advisor representatives, please review our Form ADV, Privacy Notice, and Form CRS at jlbainbridge.com and reference the SEC website for more information on the firm and its advisors: https://adviserinfo.sec.gov/firm/summary/108058. Identifying the SEC as our regulator does not imply any level of skill or training.    AR0724