"Critical Steps to Consider When Drafting an Estate Plan for Young Families: Applying the Principles of Purposeful Trusts and Gifts to Working with Parents and Grandparents”
Understand the Importance of Choosing the Appropriate Guardian! Encourage Your Clients to Document Their Legacy!
- CLE Webinar title:
"Critical Steps to Consider When Drafting an Estate Plan for Young Families: Applying the Principles of Purposeful Trusts and Gifts to Working with Parents and Guardians"
Presented by: John “John A” Warnick, Esq., Purposeful Planning Institute
Agenda:
- Introduction, Overview and Learning Objectives
- Learn about Purposeful Estate Planning (Old way vs. New Way)
- In what ways does the process of “Purposeful Estate Planning” affect the short and long-term goals of the Trust Creator? One study recently published suggests 9% of children reaching age 21 will have lost at least one of their parents. Yet study after study shows that so few parents of young children have engaged in any meaningful planning. There is a huge opportunity and need which estate planners and financial planners should be addressing.
- Working with parents and grandparents of young children present many opportunities to apply the Keys of Purposeful Trusts & Gifts. Several of the client exercises which the Purposeful Planning Institute has developed are specifically designed to assist clients in creating Purposeful Legacies for young children.
- 2017 RBC client research showed that 54% of their clients believe their family would benefit from “formal” principles to guide and give purpose and meaning to their wealth. Learn about the Tasks/Roles of the Family Estate Planning Attorney and other Advisors, the Trust Creator, the Trustee, the Guardian and the Beneficiary, review the articles available at the PurposefulPlanningInstitute.com.
- Summary, Conclusion and Call-to-Action
Your CLE Instructor
John (“John A”) Warnick, Esq. is the founder of the Purposeful Planning Institute and Family Wealth Transitions and Solutions.
John A balances his enthusiasm for tax savings with in-depth discovery and purposeful questions to ensure the planning is congruent with his client’s core values. He delivers workshops across the nation for estate planning attorneys and financial planners sharing the six paradigms of Purposeful Planning and the Seven Keys of the Purposeful Trust.
He spends a considerable amount of his time facilitating family retreats and providing wealth counseling, fiduciary and philanthropic consulting services. He finds immense fulfillment in educating and training children, adolescents and emerging adults in financial literacy, philanthropic service, and holistic family wealth principles.
The Purposeful Planning Institute (“PPI”) attracts individuals and firms who believe there is a better way, a better process, a better practice lying just ahead of us and that our past experiences and knowledge are merely a prelude to our finest hours in service to our clients. It is the most affordable and easily accessible educational and training platform for advisors to HNW and UHNW clients. PPI offers great value through our easily accessible educational content, programs, and training for financial advisors, estate planning attorneys, and other professionals and consultants serving families of wealth and families in business.
John A was the author of two BNA (Bureau of National Affairs) Tax Management portfolios. He co-authored “Selecting a Trust Situs in the 21st Century” which was published in Probate and Property. He is currently serving as co-editor of a book on best practices for trusts and is also working on two other books entitled "The Gift of You" and "The Purposeful Trust Handbook".
Mr. Warnick received a BA magna cum laude from Brigham Young University and his JD from George Washington University with honors.
Prior to launching his own business, John A was a partner in the Denver office of Holme Roberts & Owen LLP for almost eleven years after practicing in Nevada and Wyoming previously.
Professional Associations and Recognitions
- Fellow of the American College of Trust and Estate Counsel
- Recognized as a Best Lawyer in America
- Member of International Association of Advisors in Philanthropy
- Member of the Financial Planning Association
- Member of the Collaboration for Family Flourishing
- Advisory Board Member for the Family Building Institute
- Member of the Colorado Bar Association & Wyoming State Bar
John A. Warnick may be reached through the PurposefulPlanningInstitute.com.