Transfer Wealth Purposefully with a Statement of Intent

Add context to your wealth transfer plan by sharing your values with your family.

Typically, beneficiaries learn of wealth transfer plans from legal documents shared without context and only after the death of the grantor. However, this can lead to unanswered questions and, potentially, feelings of betrayal when expectations for future gifts go unmet. To address the risk of future family discord, some wealthy families now include a Statement of Wealth Transfer Intent (SOWTI) in their wealth transfer plan. As a starting point for the planning process, a SOWTI enables families to think through and then communicate their vision with the current and future beneficiaries of their trusts.

Align Your Trusts and Family Goals with Purpose

Including a formal SOWTI within your trust documents will not override the specific terms of your trusts. But going through the process of creating one will allow you to share and define your perspective regarding the decisions you made around:

1. Wealth and the role of trusts
2. What constitutes family
3. Productive pursuits
4. Standards for distribution
5. Role of education

To help you start preparing your statement of intent, we have developed a downloadable guide. It includes a series of reflective exercises and excerpts taken from some of our clients’ SOWTIs. We also welcome the opportunity to discuss this, or any other aspect of your wealth transfer plan, in coordination with your other advisors.

The guide on creating a statement of intent is the first in a three-part series we have developed to help clients ensure their estate plans reflect the goals and intentions of their unique families. For more information on the second part of the series, please read Navigating Trustee Selection.