Multi-Generational and Family Business Planning in Portland, Oregon

Preserving your wealth for your heirs. Book a call today at Interactive Wealth Advisors to develop personalized strategic planning to meet your future financial goals.
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generational financial planning

After painstakingly creating wealth, the next hurdle should be protecting your assets and securing your financial goals for future generations.

This step is essential because 90 percent of wealthy families lose their wealth after the third generation. That is why our team of experienced tax planning advisors in Portland, OR, offers comprehensive wealth management and estate planning services in Portland and surrounding cities.

What Is Multigenerational Planning?

Multi-generational planning involves preparing to transfer your wealth to younger generations. With thorough planning, your life’s work is successfully transferred to your children, who pass it down to their children when the time is right.

Multigenerational family wealth planning ensures financial stability among the generations in the family with the transferal of assets, family business, and even financial gifts to younger relations.

multi generational estate planning

Why People Hire Us

Retirement Planning
Our well-designed process and experience will leave nothing to chance when it comes to your successful retirement.
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Investment management
Once we’ve helped you define your goals and objectives, our investment management will be the engine that drives your plan.
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Transition planning
Whether you receive large windfall or an uninvited misfortune, we’ll help you make smart decisions and minimize the financial stress.
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Business Owner Planning
With Interactive Wealth Advisors’ help, you can simplify the process by integrating your business and personal planning— in an attempt to find synergies that may help to provide tax and retirement planning opportunities.
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Tax Planning
With Interactive Wealth Advisors’ help, you can simplify the process by integrating your business and personal planning— in an attempt to find synergies that may help to provide tax and retirement planning opportunities.
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Estate Planning
At Interactive Wealth Advisors, our estate planning services are designed to help you protect your family and assets while making sure they are used in the way you want. Whether it is creating a simple will or advanced trust, we can develop a custom estate planning solution that fits your needs and goals.
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IRA planning
Interactive Wealth Advisors is a fee-only financial planner in Portland, and our IRA retirement planning service will help you navigate the financial challenges of today’s dynamic retirement planning process.
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Social Security Planning
Social Security is a crucial part of preparing for retirement. Created in 1935, the Social Security Administration (SSA) was designed to help protect people from becoming destitute if they become disabled or too old to work. It provides benefits to retirees, disabled workers, widows, widowers, and their families.
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Asset Protection Planning
It has taken blood, sweat, and extreme work ethic to build your business or brand and accumulate wealth. Now that you are a high net-worth individual, it’s vital that you take deliberate steps to preserve this wealth. This is where asset protection planning comes in.
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Holistic financial planning
When it comes to preparing for the future, you want a team that understands your goals, dreams, and finances. That’s why we offer holistic financial planning and sudden wealth counseling services that are specifically designed to help you make the most of your money.
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What are the Key Components of a Multi-Generational Wealth Planning?

With the constant increase in fortune, you should consider financial planning for multigenerational families to ensure that your assets are shared to achieve your future goals.

  • Employ multi-generational asset allocation

While most people often develop reduced risk tolerance as they age, multi-generational asset allocation can help lessen the risks.

In this case, the investment time horizon depends on generations of the family, not just yours, so the liquidity tolerance is also shared among the family.

  • Leverage your gifting

Maximizing the yearly gift exclusion can reduce your potential estate tax liability. With this straightforward strategy for generational planning, you can remove assets and their potential appreciation from your taxable estate and reduce the burden on your heirs.

multi generational wealth
  • Consider a philanthropic strategy

You can consider philanthropy, a long-term wealth management strategy, by creating a Donor Advised Fund (DAF) or a family foundation to structure the donation process.

Contributing to a DAF makes you eligible for a tax reduction during the contribution. Upon your passing, your successor directs subsequent donations in the form of cash, securities, and other assets.

  • Explore trust funds

A trust is a fiduciary arrangement for a third party to hold assets for the beneficiary or beneficiaries on behalf of the asset owner.

With trusts, you can protect assets from estate taxes and creditors and ensure your assets go to your cross-generational families.

strategic planning for the family business
  • Consider life insurance 

Your life insurance can cover the cost of living for your family and reduce the estate tax burden.

Irrevocable life insurance trusts (ILITs) are paid out upon the insured’s passing. Since trust outside the estate controls the life insurance policy, it’s not a part of the policyholder’s estate and is not taxable.

family wealth planning

Who Is It For?

Our clients for multigenerational financial planning are;

  • The sandwich generation

These are adults between 50 and 65 years old, “sandwiched” between young or grown children and aged parents.

They are caught between their financial demands and retirement plans, supporting children with college or post-college plans, and assisting aging parents with elder care plans.

  • Millennials 

These are the adult children of our clients that want to ensure intergenerational sustenance.

We proffer post-college suggestions on if they should stay at home, rent, or buy a house. We advise them on how to save, invest, approach student loan payments, etc.  

  • Aging partners 

Our goal is financial asset protection for our aging partners and their children and grandchildren without compromising their needs. 

Interactive Wealth Advisor attorneys and accountants help you achieve your different objectives, including living arrangements.

  •  People looking to create a legacy

We can help our clients create a legacy by opening a charitable multi-generational trust. You can name a successor to direct the funds upon your death. 

How Can IWA Help?

After achieving significant financial strides, you should ensure you pass as much money as possible to your heirs with minimal probate and taxation issues. IWA can help with this in the following ways:

  • Retirement

Our advisors consider each client’s unique situation for the most suitable IRA retirement planning.  

After careful consideration and IRA planning, we find the most beneficial time to convert Traditional IRA funds to a Roth IRA during retirement.

  • Investing for heirs

We study your assets and retirement needs for any excesses in your portfolio and develop an investment strategy that your children or grandchildren can inherit.

  • Charitable giving

If there is still some extra money, we can help you establish a charitable foundation or donor-advised fund. 

family business advisors
  • Annual gifts

We provide guidance, including the most appropriate time to gift assets or trusts to your children and grandchildren annually. 

  • Family loans

Our team of family business advisors suggests suitable times for family loans based on IRS provisions.

  • A firm financial foundation

We also share intentional financial resources with the next generation or two to guide the next generation of wealth enthusiasts progressively.

multi generational planning

Best Practices for Multi-Generational Financial Planning

We work with our clients to develop a plan to aid them in achieving their multi-generational legacy planning goals by considering the following factors:

  • financial earnings, 
  • marital status, 
  • roles and responsibilities, 
  • financial goals and needs, 
  • immediate expenses for the youngest and oldest household members.

Our Process

Interview Us
This is the first step after you contact us. We will schedule a free call to interview each other and be sure we are a good fit for your generational financial planning.
Get to Know You
After the interview, your assigned wealth management team will get to know you and your future goals. The team will consist of a financial planner and investment manager who will collect every essential financial information and discuss your savings, earnings, spending, and more.
Agreement
At this point, we will send a document detailing the cost and the scope of our wealth planning services and investment strategy.
Let’s Plan
The next step in our process is meeting with your team to discuss your financial plan holistically. We will make our informed suggestions and the best method of execution. At the end of every meeting, you will receive a summary of topics and action points, so you are always kept in the loop.
Thorough Management
We do not trivialize this part, as it is essential to reaching your goals. Your dedicated team will monitor your investments to ensure they align with your goals.
Lifelong Relationship
We will continue to schedule regular meetings to be sure we remain on the right track as we foster a lasting relationship!

Why Choose Us?

With significant wealth comes significant possibilities… and challenges.

So, it would help if you had an experienced team to manage the wealth and accompanying family dynamics. Our team at IWA offers

  • Advice that aligns with your values

While getting to know you, we ask specific questions and listen attentively to understand you and your goals and values. Then we give financial windfall advice to support those objectives

  • An objective third party for complex topics

We understand the complexity of wealth planning topics. So, our wealth planning analysts are your designated, unbiased third party for every financial decision.

multi generational wealth planning services
  • Dedication to your next generation

Our team also works with your children and grandchildren to educate and prepare them for the obligations, possibilities, and challenges they may encounter with the multi-generational family business.

  • A team of experienced advisors 

With our wealth of experience, we can help you navigate any seemingly unique financial puzzles.

  • The solution to financial burdens 

We recognize that you have a lot on your mind during retirement, from your finances to your family, legacy, and passions. 

Let us handle the heavy thinking so you can hang your boots and enjoy retirement.

calculating retirement withdrawals

Frequently Asked Questions

What is Multigenerational Wealth?

Multigenerational wealth is wealth that is passed down for more than one generation. The wealth here refers to financial resources in the form of real estate properties, stock market investments, or financial education.

How Does Multi-Generational Financial Planning Work?

Multi-generational financial planning involves identifying your estate’s potential risks and challenges and creating a mitigation plan.

How Do I Set Up My Family for Generational Wealth?

You can set your family for generational wealth by:
  1. Financially educating the younger generation on wealth preservation
  2. Establishing a trust to protect your wealth
  3. Developing a well-crafted estate plan to serve as a legal framework for your future financial goal fruition.
  4. Plan for the financial futures of the younger and older generations

How Do You Create Multigenerational Wealth?

Here are some of the best ways to create a legacy of wealth.
  • Diversify your portfolio
  • Build a generational business you can pass down
  • Leverage life insurance
  • Commit to your child’s education
  • Teach your children personal finance
  • Have multiple streams of income

Why Does Generational Wealth Not Last?

Most times, beneficiaries of family wealth are unable to manage their generational inheritance often because:
  • Beneficiaries were not involved in the discussions and decisions regarding managing wealth.
  • There were poor Lines of Communication that compromised trust in the family
ABOUT INTERACTIVE WEALTH ADVISORS
Interactive Wealth Advisors is a Registered Investment Advisory firm in the State of Oregon and Washington. The Adviser may not transact business in states where it is not appropriately registered, excluded or exempted from registration. Individualized responses to persons that involve either the effecting of transaction in securities, or the rendering of personalized investment advice for compensation, will not be made without registration or exemption.
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