LITTLE BLACK BOOK
ON GENERATIONAL WEALTH
by Robin Williams Wood, Esq & Portia M. Wood, Esq
An award winning estate planning law firm breaks down the critical components of an estate plan and highlights the historical impediments to building and protecting Black Wealth.
WHAT YOU WILL DISCOVER IN THIS BOOK
An Action Blueprint
The tools needed to navigate what can be a complicated set of legal and financial issues.
What's Included in a Comprehensive Plan
Learn the considerations necessary to configure a personalized plan. Start thinking about your specific needs, finances, and assets.
Understand Difficult & Confusing Legal Terms
A glossary of helpful definitions and explanations. It's tough plan what you may not understand. This glossary is the ultimate starting point.
HERE'S THE TRUTH...
We are acutely aware of our ancestors’ expectations that we will scale opportunity for our children and our children’s children, as they have endeavored to do for us. With this in mind, we are intensely focused on the creation and preservation of black family wealth. Dire predictions suggest that median black wealth in the U.S. will reach ZERO by the year 2053.
We have come too far as a people to allow these predictions to materialize. Although we have made tremendous gains with respect to income, income does not translate into wealth without
savings and investment. Equally important, hard-earned wealth is diminished when we fail to protect it with the tools provided by estates and trusts law. If assets are accumulating with a family’s next generation in mind, an estate plan must be a top priority in their financial plans.
It is estimated that upwards of 70% of African-Americans in this country do not have an estate plan of any kind. Of those who have done some estate planning, too often the plans do not
utilize the full protections the law provides, or are insufficient for the kinds of assets the individual has acquired over their lifetime.
A will alone is rarely sufficient to pass assets to the next generation intact. This is especially true when business interests are involved.
WE ARE GIVING YOU ACCESS TO INVALUABLE INFORMATION
Our book reveals insightful strategies you can use to set your family up for success. Plus, it will give you the information needed to understand how the racial wealth gap was allowed to grow and how your family's future can be sufficiently protected by acting now.
If you have yet to start your estate plan, or are looking to improve the one that you already have, the information in this book can help you comprehend what possible options you have to secure your assets for your family and how to have the conversation around black wealth.