Legacy Financial Services


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Learn about Legacy Planning

1. Family Values

Your family values—how you choose to work, play and love—are passed down from generation to generation. Living a life that is defined by those values requires hard work and balance. Far too often, we get caught up in the day-to-day and forget what’s most important to us.

Successful individuals and families work hard and are invested in career goals, material things and financial rewards. Yet if we neglect the less tangible things—family, relationships and fun—our lives can quickly become stressful, overwhelming and unsatisfying. People often say that their family comes first, yet at the end of the day they find they have little time or energy left over to devote to their family.

Integrating your family values with your wealth requires time and patience, but the rewards of making such an effort can be significant and lasting.

In his book, Strategy for the Wealthy Family, Mark Haynes Daniell argues that family wealth is made up of a series of common and interdependent parts, including:

1. Financial wealth: You can use your wealth as a tool to achieve goals, build security and create opportunity for future generations.

2. Integrity: You contribute to your family’s long-term success by nurturing integrity, family values, a work ethic, humility and respect for others.

3. Accomplishment: The accomplishments of generations that came before you positioned your family for today’s success, while your current activities are building a legacy for the future.

4. Physical security, health, and fitness: Wealth is meaningless if you don’t have safety, health and emotional wellbeing.

5. Knowledge, wisdom, and spiritual growth: The ability to think, reason and believe is what makes us human. Without knowledge, wisdom and spiritual growth, wealth will not help you live a truly fulfilling life.

6. Family harmony: A supportive, united family can be one of the greatest sources of happiness. Family conflict, on the other hand, can quickly devastate the wealth you’ve worked so hard to build.

7. Individual happiness: Each individual family member must be free to pursue their own dreams and goals, whatever those may be. Wealth should be thought of in both individual terms as well as in the aggregate.

Every family is different. You may decide to emphasize some of the above values more than others. The key is to work together to come to a cohesive understanding of your family’s wealth and what it means to you. You need to do this before you can move forward and develop a long-term plan for continuing to build and sustain wealth for future generations.

We can help your family work together to define your family values. With our customized approach, you’ll be better able to use your unique family wealth definition to create a long-term vision and mission for what you want to achieve with the wealth your family has built.
2. Philanthropy

Many Blossom Family Office families wish to leave some or all of their wealth to charity. Blossom Family Office assists families with crafting and implementing their charitable intentions.

Blossom Family Office currently provides the following philanthropic services:

a. Foundation creation

b. Foundation strategy and governance

c. Foundation management and oversight

d. Gifts coordination

For more information on Blossom Family Office, please contact James E. Salter at [email protected]
3. Lifestyle Management

Lifestyle Management is proactive and focused attention on non-investment-related areas such as art, private staff, residential real estate, travel, medical care, and family governance.
4. Family Mission/Constitution

A Family Mission/Constitution is a written declaration that states that family’s agreed-upon purpose for the family wealth. A family’s wealth consists of assets as well as its time, reputation, personal contacts, position in the community, and its ability to influence peers. The Mission is intended to be a purpose-based document built upon the values of the family and adds coherence and long-term stability to the family’s efforts to constructively use its wealth. It is intended to serve as a living document.
5. Human Capital

Effective oversight of a family’s individual members is a critical component to ensuring that succeeding generations flourish and lead meaningful lives. Blossom Family Office’s team of professionals partners with each family to address its unique human capital needs.

Blossom Family Office currently provides the following human capital services:

a. Family meeting facilitation

b. Family governance planning and development

c. Life plan coaching

d. Life events navigation

e. Financial education

f. Family dynamics consulting