Family Money, Family Values, and Your Family Legacy.

By Raymond D. Loewe

You can leave a legacy without the money, and you can leave money but no legacy.

When most people think about leaving a family legacy, they think about wealthy people leaving lots of money to their children and grandchildren. But a family legacy doesnt have to be just for the rich. The less well-off and even the not-so-well-off can leave a family legacy too.

Too often, the creation of a family legacy is aimed at reducing estate taxes and perpetuating wealth for future generations. Although these are certainly worthwhile goals, they often have the unintended effect of creating future entitled generations, which can actually be a disservice to those individuals. But this need not happen. There are numerous opportunities to create positive good works through the vehicle of a family legacy. The key to a well-designed family legacy is to have a clear sense of purpose as to its intended use.

Instead of starting with the money first, ask yourself these questions: What really is my legacy to my family? What are the values I want my children and grandchildren to learn from me?

Then ask yourself: How do I use my money to perpetuate my legacy?

• Language: English
• Publisher: iUniverse
• Release date: Sep 18, 2013
• ISBN: 9781491706596

Raymond D. Loewe

Ray Loewe's mission is to meet with clients and to get them feeling better about their financial future. His Unique Ability™ enables him to sift through the clutter of his clients' financial concerns and help find the best solutions, often using and sharing new perspectives in the process. This ability led to the development of The College Money System™, The New Retirement Paradigm™, and Wealth & Wisdom Sharing™ as ways of helping clients define their concerns and visualize their opportunities. He has appeared on Good Morning America, CNNfn, and CNBC. He has been frequently quoted in national and local newspapers and magazines, including the Wall Street Journal and Money Magazine. Professional organizations often feature Ray as a speaker, including the Maryland Bar Association, the Annual Forum of The Society of Financial Service Professionals, and local Estate Planning Council and FPA groups. Ray has authored four books on effective college planning including, How to Plan for College: An Advisor’s Guide to Acquiring New Clients and Profitable Assets, which was released by The National Underwriting Company in 2007. His most recent book, The Luckiest Guy in the World, describes a process for imagining and implementing a New Retirement Paradigm. Ray is a Registered Representative and Investment Advisory Representative with United Planners Financial Services of America, Member FINRA and SIPC. Ray holds a BS in Electrical Engineering from the University of Pennsylvania and an MBA from the Wharton School, University of Pennsylvania, and is a Chartered Life Underwriter (CLU) and a Chartered Financial Consultant (ChFC). E-mail: [e-mail] Website: www.financialresourcesnetwork.com

Book preview

FAMILY MONEY,

FAMILY VALUES,

AND YOUR

FAMILY LEGACY.

RAYMOND D. LOEWE

iUniverse LLC

Bloomington

Family Money, Family Values, and Your Family Legacy.

Copyright © 2013 by Raymond D. Loewe.

All rights reserved. No part of this book may be used or reproduced by any means, graphic, electronic, or mechanical, including photocopying, recording, taping or by any information storage retrieval system without the written permission of the publisher except in the case of brief quotations embodied in critical articles and reviews.

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Any people depicted in stock imagery provided by Thinkstock are models, and such images are being used for illustrative purposes only.

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ISBN: 978-1-4917-0658-9 (sc)

ISBN: 978-1-4917-0659-6 (ebk)

Library of Congress Control Number: 2013916008

iUniverse rev. date: 09/11/2013

CONTENTS

Introduction

Chapter 1   Our Clients Care About Others

Chapter 2   The Guilt-Free Spending Cookie Jar

Chapter 3   The Family Charity

Chapter 4   Starting A Business

Chapter 5   The Educational Trip

Chapter 6   The Family Reunion

Chapter 7   Preserving The Vacation Home For Future Generations

Chapter 8   Family Loans For Worthwhile Purposes

Chapter 9   College Help For Future Generations

Chapter 10   Buying A First House

Chapter 11   Sponsoring A Charitable Event

Chapter 12   Mary’s Family Trust

Chapter 13   Sponsoring An Athletic Event

Chapter 14   Sponsoring Or Contributing To A Worthwhile Project

Chapter 15   It’s Not About The Money

About The Author

On How Much to

Leave to Children:

The perfect amount is enough money so they would feel they could do anything but not so much that they could do nothing.

Warren Buffet

INTRODUCTION

This book is about estate planning, of sorts. But you won’t find anything specific about taxes or generation-skipping trusts.