What distinguishes TSP Family Office from others in the financial space is our development of a proprietary process that creates abundant, multigenerational wealth through integrated, comprehensive financial and tax strategies.
We have been developing this unique process, The Multigenerational Wealth Navigator, for more than 20 years. We see our role as learning to understand you, our client, in a way that allows us to bring you solutions to the challenges you face, including ones you may not even be aware of or have thought were not of any meaningful consequence.
What Is The Multigenerational Wealth Navigator Journey?
The first step, The Life Journey Navigator, begins with The Life Impact Navigator, where we share our principles and values with you and learn about your goals and values. Next, with The Unconventional Wisdom Navigator, we introduce you to our unique process which begins with a client education curriculum to teach you how to think differently. By learning to think outside of what you undoubtedly have heard or read in the mainstream, you will empower yourself to make the best possible decisions concerning your legacy and wealth.
Protection
The Secure Navigator stage begins with a guided review of the various risk management options available, including our proprietary underwriting process and asset protection. Succession and planning around life events are important parts of this process. Births, deaths, marriage, divorce, remarriage, education planning, retirement, residential acquisitions, and business succession are life-changing events with important ramifications for your legacy as well as tax planning consequences, as are many others.
Wealth Planning
One of the most important things to remember when you are consulting TSP Family Office for financial planning is that we partner with Registered Investment Advisers who maintain a true fiduciary relationship with our clients. This means they have a fiduciary duty, an obligation, to act in your best interest.
The purpose of The Strategic Investment Navigator is to delve deeply into your assets under management to conduct risk assessments and create financial plans to protect and grow what you already have earned and invested. We help you analyze your risk budget and extend financial planning far beyond simple money issues to include life events and transitions as well as your impact on the community, family, and legacy.
Our partners offer retirement plan consulting and management and also provide access to various alternative investments.
Another area that has profound implications involves beneficiary designations. You would be surprised how often we uncover issues in this area. For example, many people establish beneficiaries for their retirement accounts when they first set them up and then forget about them. 401(k) retirement plans are established under the federal Employee Retirement Income Security Act of 1974, which mandates that the beneficiary specified in the plan documents supersedes any will or trust documents you may have executed. We track these types of requirements and monitor when you need to update plans to account for important life changes.
Tax Strategies
The Strategic Tax Navigator takes advantage of our deep expertise and knowledge of the more than 400 tax deductions available to business owners as well as the other tax-advantaged investment vehicles available to all qualified investors such as Roth IRA conversions.
Certain business owners may want to consider a cost segregation study, captive insurance, or research and development (R&D) tax credits.
Other opportunities for business owners may be presented in conjunction with various strategic partners who can bring Chief Financial Officer (CFO) services, such as payroll, bookkeeping, business growth, and succession planning.
Estate Planning
With The Estate Navigator we review existing estate plans in light of any recent tax law changes and provide you the opportunity to review your current wishes and beneficiaries, gifts and trusts, wills, medical directives, and power of attorney. We also guide you through a discussion of digital estate planning to determine who you want to have access to your digital assets, including the passwords for your computers and devices, online accounts, the digital photos on your phone, and your social media accounts.
Legacy Planning
The Legacy Navigator is your opportunity to engage in values-based protection planning, financial planning, and legacy planning to put in place legacy and succession plans to support the next generation and future generations to come.
Using The Values-based Legacy Navigator you will be able to leave a much more personal part of yourself with your family than just financial wealth. Our family legacy planning video offering gives you the ability to share photos and videos. You may bestow blessings upon family members and share with them personal communications about actions you’ve taken during your lifetime, the trials and tribulations you’ve endured and the lessons learned. Legacy planning provides you with the chance to avoid any missed opportunities to bring closure to any outstanding situation. You will be able to share your hopes for future generations of your family and to share directly with them the family values perhaps from generations before you that you hope will passed on for generations to come.
TSP Family Office also reviews your existing banking relationships and your satisfaction with them to develop a complete understanding of your business relationships. As the need arises, there may be opportunities to recommend a review of banking solutions that may introduce business efficiencies and streamlined solutions, as well as other benefits.
The Lifetime Vision Navigator completes the annual process with a review of the year past and sets the stage for the new year to come. It takes into account any major life changes that have taken place over the year and provides the opportunity to plan for any that are on the horizon.
The Multigenerational Wealth Navigator is truly comprehensive. Where many advisors and consultants may present you with a specific tactic or product, our unique process allows us to apply various combinations of tactics into successful strategies. You then are able to capitalize on those results, including tax savings, to leverage more advanced strategies. We show you how to leverage and connect that tax savings to create a multigenerational impact.
The key components of The Multigenerational Wealth Navigator are:
It is unique.
It is trademarked.
It creates abundant, multigenerational wealth.
It is comprised of integrated and comprehensive financial and tax strategies, and
It is a catalyst to a bigger future for you, the TSP Family Office client.
Through the Navigator process, we listen to you to learn about your family and your business. When we’ve developed a thorough understanding of your principles and your values, your hopes and dreams, we provide direction to guide you with clarity on the steps to take towards them.
By building this relationship, you will develop confidence that TSP Family Office can be trusted and relied upon to make your interests our top priority and your family part of ours. To learn more about how TSP Family Office can help you achieve your life and financial goals, contact us today at (772) 257-7888 or email us at info@tspfamilyoffice.com.