A family meeting should be designed to map out what you want to happen in the future. Possible reasons for a family meeting include:
- Promote Stewardship, which is the responsible oversight and protection of something worth caring for and preserving.
- Share values as well as estate and financial plans.
- Embrace the challenge to discuss thoughtful planning and its impact on family members.
- Perpetuate a family legacy.
- Discuss multi-generational planning.
- Judiciously communicate details when all generations are still living.
- Prepare heirs for future roles and responsibilities.
- Establish a forum for collaborative decisions.
- Educate heirs on financial literacy or estate planning.
- Create an atmosphere of trust.
- Open lines of communication that may have closed.
- Establish family leadership roles and responsibilities.