In this episode of Navigating Abundance, Chris Tanke and Thomasina Williams of Sankofa Legacy Advisors discuss the misconception that family harmony is the ultimate goal in family dynamics. Instead, they emphasize the importance of building authentic connections and navigating differences within families. Thomasina introduces a framework for leadership development that focuses on awareness, communication, and understanding relationship patterns. The conversation also highlights the significance of maintaining family connections and the impact of generational patterns on family dynamics. Thomasina shares insights on her upcoming leadership development experience designed for women, aimed at fostering genuine conversations and leadership skills within family contexts.

Learn more about Navigating Abundance: https://navigatingabundance.com/

Download the OPRAS deliverable here: https://bit.ly/4kOr4R2

Lead From Within. Change what becomes possible. 9 week experience for women: https://www.developfamilyleaders.com/lead-from-within-change-what-becomes-possible

Learn more about Thomasina and Sankofa: https://www.developfamilyleaders.com/

What if you only have 90 days left to live? What should Family Business owners focus on?

In this episode of Navigating Abundance, Chris and Connor discuss the concept of total family wealth, focusing on the importance of financial, logistical, and legacy wealth. They explore what individuals should prioritize if they had only 90 days to live, emphasizing the urgency of having important conversations with loved ones about wealth management and family values. The discussion includes practical advice on managing ledger wealth, understanding logistic wealth, and fostering family relationships, culminating in actionable steps for legacy planning.

Learn more at https://navigatingabundance.com/

Chapters

00:00 Introduction and Context

02:52 The Concept of Total Family Wealth

05:50 Understanding Ledger Wealth

11:52 Exploring Logistic Wealth

19:44 Focusing on Legacy Wealth

26:44 Family Relationships and Communication

32:41 Final Thoughts and Tools for Legacy Planning

Keywords

total family wealth, legacy planning, financial capital, family communication, estate planning, emotional wealth, family relationships, wealth management, legacy wealth, logistic wealth

In this conversation, Chris Tanke and Ken Puzycki delve into the complexities of estate planning, focusing on the importance of correctly designating beneficiaries and understanding the implications of trusts. They discuss various scenarios that can arise when beneficiaries predecease the account holder, the differences between per stirpes and per capita distributions, and the necessity of regular updates to estate plans to reflect life changes. The conversation emphasizes the need for coordination among financial planners, attorneys, and clients to ensure that estate plans are executed according to the client's wishes, ultimately aiming to avoid heartache for beneficiaries.Learn more about Navigating Abundance: https://navigatingabundance.com/Learn more about Ken Puzycki: https://www.puzycki.com/Chapters00:00 Introduction to Beneficiary Designations03:19 Understanding Beneficiary Forms and Their Importance06:13 The Role of Trusts in Beneficiary Designations08:48 Common Pitfalls in Beneficiary Designations11:25 The Impact of Predeceased Beneficiaries13:26 Strategies for Equal Distribution Among Grandchildren16:17 Overrides and Defaults in Beneficiary Designations22:17 Understanding Beneficiary Designations25:11 The Importance of Estate Planning28:06 Keeping Estate Plans Current34:12 Coordination Among Advisors35:39 Charitable Giving and Estate Planning39:55 Outro