This five-question quiz can help you determine the impact you want to make—through your family legacy, your business, or your philanthropy—and learn where you can get help in taking the next steps toward your vision.
Creating a family legacy can be rewarding and create a sense of shared values and impact across generations.
Wondering where to begin? The first step is involving the whole family in wealth planning. It could be a personal, collaborative experience based on a deep understanding of what's most important to you and your family—no matter where you are on your financial journey.
Learn more about going beyond traditional wealth management to support your family's life and legacy goals. These candid conversations can help improve relationships and help you build a lasting family legacy. Consider talking to a wealth planner to help map out a plan that fits your vision.
What else you should know:
Investing can be more than a financial decision: It's also a statement about what your family stands for. Whether you're concerned about the environment or the ethical treatment of animals, or wish to have your religious beliefs reflected in your portfolio, Social Impact Investing can help you make an impact in areas that matter to you most.
Learn more about three actions that foster productive conversations about family wealth.
What are ways you can overcome generational biases?
Here are some considerations when talking to your young adult children about money.
Whether you run a long-term family business or are considering a start-up, the products you produce, the communities you serve, and your commitments to sustainability or other causes can be rewarding and have far-reaching impacts. All of these can affect your board, employees, customers, or others who use your services or products.
When you're thinking about what comes next for what may be your single largest asset, learn more about:
You work hard, and sometimes your personal plans get overshadowed by business demands. Periodic check-ins with your professional advisors can help keep your wealth plan properly aligned with your needs.
Consider sitting down with your wealth advisors to see how your estate plan is tracking against your values and goals. Learn more about wealth planning and trust services provided by The Private Bank.
Consider reaching out to a wealth planner to map out and maintain a plan that fits your vision.
Ways to support the causes important to you, your family, and your business vary. For example, one way you may want to give back is through donor-advised funds. These are philanthropic tools that offer flexibility and benefits that private foundations may not. Another way you may want to give back is through voluntourism. Whatever path you choose, be strategic with your approach. How you give matters as much as what you give.
By creating an Intentional Giving Plan, you can develop an effective philanthropic strategy that aligns with your values. Wells Fargo Philanthropic Services can help you achieve your charitable vision and make the most of your gifts. Its philanthropic specialists can help you evaluate your giving strategies, determine your needs, and create a comprehensive, efficient gifting plan.
Investing can be more than a financial decision: It can also be a statement about what your family stands for. Whether you're concerned about the environment or the ethical treatment of animals, or wish to have your religious beliefs reflected in your portfolio, Social Impact Investing can help you make an impact in areas that matter to you most.
Consider sitting down with your wealth advisors to see how your estate plan is tracking against your values and charitable goals. Learn more about wealth planning and trust services.
Learn more about estate planning, including setting goals and sharing with others.
Consider discussing further with a wealth planner to help you map out a plan that fits your vision.