Many families in Springfield have a similar goal: to not only build wealth, but to keep it working for future generations. Managing multi-generational wealth is not easy, and it takes more than smart investing. It can demand clear planning, disciplined execution, and—just as importantly—a shared understanding across family members.
At LaTour Asset Management of Springfield, we’ve helped clients create structures that preserve their legacy and promote lasting financial stewardship. Here are some of the building blocks we often recommend.
Investment Strategy With Time on Its Side
When your horizon spans generations, your approach should naturally shift:
- Long-Term, Diversified Portfolio: A well-built multi-generational portfolio should prioritize long-term growth over short-term gains. That may mean maintaining a diversified mix across stocks, bonds, real estate, and alternatives—even spanning different geographies.
- Liquidity Planning: Thoughtful liquidity reserves may help you avoid forced sales of illiquid holdings (like real estate or private equity) during unexpected events or capital calls.
- Regular Rebalancing: Annual or semi-annual reviews can give you more confidence that your portfolio continues to reflect your family’s risk tolerance and goals as markets—and lives—change.
Legal and Tax Structures That Work Behind the Scenes
Good investing is only part of the equation. The legal and tax framework matters just as much:
- Comprehensive Estate Plan: Wills and powers of attorney are just the beginning. A clear estate plan helps minimize ambiguity and can reduce the risk of costly disputes.
- Strategic Trust Use: Trusts help control how assets are accessed and distributed. For example, funds can be earmarked for education, a future home purchase, or business startup—on a timeline you define.
- Gifting While Living: Using the annual gift tax exclusion can reduce your taxable estate gradually while also allowing you to witness the impact.
- Business Succession Planning: If a family business is part of the picture, a well-defined plan can help ensure a smooth transitions without eroding the company’s value or mission.
The Human Side of Wealth: Education and Governance
Even the best financial strategy may fall short without intentional work from the next generation. That’s why we recommend:
- Open Dialogue: Regular family meetings create a space to discuss values, decisions, and responsibilities—before tension arises.
- Financial Education: Introducing younger generations to budgeting, investing, and asset management helps ensure they’re ready to inherit—not just wealth, but the responsibility that comes with it.
- Family Governance Structures: Whether it’s a simple family mission statement or a formal family council, structure helps clarify roles and decisions.
- Professional Oversight: Bringing together advisors, attorneys, and tax experts helps keep every piece of the plan aligned and compliant.
We’re Here to Guide Your Legacy
Multi-generational wealth planning is a process that’s rarely straightforward, but you don’t have to tackle it alone. Our team at LaTour Asset Management of Springfield has helped families across Springfield take confident steps toward long-term security. When you’re ready to build for more than one lifetime, we’re here to help you do it with confidence and care. Call (877) 888-5724 to start a conversation that honors your legacy.
