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Is Your Family Ready for a Legacy Bank?

Who are you planning for?

*

A

Mostly myself and my spouse (0)

B

Our children (2)

C

Our children and grandchildren (3)

D

Generations we may never meet (3)

How far ahead are you planning?

*

A

The next few years (0)

B

My own lifetime (1)

C

My children’s lifetimes (2)

D

Several generations out (3)

When someone in the family needs financial help, what usually happens?

*

A

It rarely comes up (0)

B

I give them the money, no strings attached (2)

C

We lend informally. Sometimes it’s paid back, sometimes not. (3)

D

We follow a written lending process (3)

Has money ever caused tension in your family?

*

A

Not that I know of (1)

B

A little, though no one really talks about it (2)

C

Yes. Gifts or loans that felt uneven have caused friction. (3)

D

I’d rather not say (1)

How often does your family talk openly about money?

*

A

Almost never (3)

B

Only when something comes up (2)

C

Occasionally (2)

D

Regularly. It’s part of how we operate. (3)

If your heirs inherited everything tomorrow, how ready would they be to manage it?

*

A

Very prepared (1)

B

Somewhat prepared (2)

C

Hard to say (3)

D

Not yet. They’re still young. (3)

What matters most to you about what you leave behind?

*

A

Keeping taxes as low as possible (0)

B

Dividing it fairly (1)

C

Knowing my kids can handle it well (3)

D

Knowing it will keep helping the family for generations (3)

What does your current plan look like?

*

A

Nothing formal yet (3)

B

A will (3)

C

A trust or estate plan (2)

D

An estate plan plus regular family meetings or governance (2)

How do you feel about maintaining a formal family structure, with documentation, tracking and annual check-ins?

*

A

I’d rather keep things simple and hands-off (0)

B

I’m open to it if someone helps run it (3)

C

I’m ready to commit to it for the long haul (3)

Roughly how much do you have in investable assets?

*

A

Under $400K

B

$400k-$1M

C

$1M-$3M

D

$3M-$10M

E

$10M+

F

I’d rather not say