Building Your Family’s Legacy: The Power of Multigenerational Planning

Multigenerational estate and retirement planning is more than a personal task—it’s a family commitment. By planning together, families can ensure financial stability, reduce misunderstandings, and build a legacy that supports everyone from grandparents to grandchildren.

Involving multiple generations prevents confusion, avoids conflict, and clarifies expectations about inheritance and caregiving. This approach also adapts to life’s changes—whether it’s rising healthcare costs for elders or education expenses for the young—keeping your family prepared for the unexpected.

Tips for Effective Multigenerational Planning:

• Start Conversations Early: Open communication prevents surprises and helps everyone feel heard.

• Include All Generations: Different perspectives strengthen the plan and foster understanding.

• Consult Professionals: Estate planning attorneys and financial advisors help you navigate legal and tax complexities.

• Consider Trusts: Tools like revocable and irrevocable trusts ensure your assets are protected and distributed as intended.

• Review Regularly: Life changes—so should your plan. Check in annually or after major milestones.

A comprehensive family plan protects wealth, reduces financial burdens, and brings peace of mind. At Russo Law Group, we’re here to help your family safeguard its future—so every generation can thrive.

If you would like to speak with an experienced elder law attorney regarding your situation or have questions about something you have read, please do not hesitate to contact our office at 1 (800) 680-1717. We look forward to the opportunity to work with you.

Disclaimer: The information provided above is for general informational purposes only and is not legal advice.