Multigenerational wealth planning
One family. One plan.
Three generations.
For families supporting aging parents and adult children at the same time, we coordinate every generation’s decisions in one plan, so care, education and inheritance support each other.
Multigenerational wealth planning coordinates one household’s finances with the needs of aging parents and adult or college-age children, so decisions about care, education, estate documents, taxes and inheritance support each other instead of colliding.
What it is
What is multigenerational wealth planning?
Multigenerational wealth planning looks at a family’s finances across generations instead of one household at a time. It asks how today’s decisions about care, college, taxes and estate documents affect the people who come next.
Most families already make these decisions. They just make them separately. A parent updates a will without telling the children. An adult child pays for care without adjusting their own retirement plan. Preserving family wealth is less about any single strategy and more about coordination. Here’s what that looks like in practice.
Care. Who pays for a parent’s care, and how that affects everyone else’s plan.
Education. How college funding fits alongside your own retirement.
Documents. Wills, trusts, powers of attorney and beneficiaries that match the plan.
Conversations. How and when the family talks about money.
Not three plans. One plan, for the whole family.
Aging parents
Supporting aging parents’ finances.
Helping a parent with money usually starts quietly: a missed bill, a confusing statement, a question about care. The earlier the family has a plan, the calmer those moments are.
Powers of attorney and account access
A durable power of attorney and clear account access let a trusted person step in when needed. We help families understand what to ask their estate attorney about, and we make sure the plan reflects who can act and when.
Care costs and their income
Care can be the largest expense in a parent’s later years. We look at their income, savings and insurance to see what they can cover, and where your support might be needed, before the need arrives.
Talking to parents about their estate plan
Estate planning for parents often starts with one conversation that nobody wants to begin. We suggest starting with questions, not answers. Our piece on talking to parents about money offers a simple place to start.
Your own plan
Your own plan in the middle.
When you are supporting parents and children at once, your own retirement is the easiest thing to set aside. It is also the one plan that has to hold everyone else’s up.
College vs retirement funding
There are loans for college and none for retirement. That does not mean choosing one. It means deciding how much each can receive while keeping your own plan on track, and revisiting that balance as children get closer to college.
The sandwich generation years
Caring for parents and children at the same time is common, and it is heavy. Our piece on sandwich generation financial planning looks at how families keep this stage from swallowing their own future.
Estate planning coordination
Wills, trusts and beneficiary designations only work if they match the plan. We coordinate with your estate attorney so documents, accounts and intentions line up. We do not draft legal documents, and we make sure the people who do have the full picture.
Passing wealth well
Passing wealth well.
Passing wealth well is less about the transfer and more about preparation. Families that talk early, write things down and keep documents current tend to have calmer transitions.
Family money meetings
A family meeting does not need to be formal. A clear agenda, a calm setting and a few honest questions go a long way. Our framework for family money conversations outlines one way to run it.
Multigenerational estate planning
Trusts, gifting and beneficiary choices can help wealth move between generations in an orderly way. These are things to know to ask about. The right approach depends on your family, your goals and advice from your estate attorney and tax advisor.
What we coordinate with your estate attorney
We share the financial plan, confirm account titling and beneficiaries, and make sure the documents reflect what the family has decided. Your attorney handles the legal work. We keep everything connected.
How Tilson helps
A family-led firm, for families.
Tilson Financial Group is family-led, with the next generation already in place. Continuity is part of how we work.
We are an independent, fee-only SEC Registered Investment Adviser, founded in 1991 in New Providence. Our advisory team includes CFP® professionals, CPAs and a CFA® charterholder. When everyone depends on you, we help orchestrate the whole picture: your parents, your children and your own plan.
When you call, a human answers.
Your advisory team knows your story.
Our back office knows your name.
Comprehensive financial planning
Retirement planning
Tax planning
Estate planning coordination
Investment management
Multigenerational planning
We work with families across New Jersey and across the country. Meet the team who will know your family’s story.
Who this is for.
You are supporting aging parents and adult or college-age children at the same time. You want your parents’ plans, your plan and your children’s futures to fit together. You are thinking about how to pass wealth on well, and how to talk about it. You want one team that sees the whole family.
If that sounds like you, we should talk.
“I switched to them as my Dad had been with Tilson for many years and always spoke highly of them. I’m very happy.”
Jamie M., Current Client
Clients were not compensated for testimonials.
Questions families ask us about family wealth.
What is the sandwich generation?
The sandwich generation describes adults who are supporting aging parents and their own children at the same time, financially, emotionally or both. It is a common and demanding stage. Our piece Three Generations, One Plan walks through how families plan for it.
How do I help my aging parents with their finances?
Start with a conversation about what they have, what they want and who should step in if they cannot. Then confirm the basics: powers of attorney, account access, beneficiaries and a picture of their income and care costs. We can help coordinate each step with their attorney.
Should I fund college or retirement first?
In most plans, your retirement comes first, because there are loans for college and not for retirement. That rarely means giving college nothing. It means deciding how much each can receive while your own plan stays on track, and revisiting it as circumstances change.
What happens in a family financial meeting?
Usually less than people fear. A good meeting shares the plan in broad strokes, answers questions and names who does what if something happens. It is about clarity, not dollar figures. Many families hold one each year, often in summer.
Do we need a family office?
Most families do not. A family office is a dedicated staff that manages a very large family’s affairs. For most families, a wealth management team that coordinates planning, taxes, investments and estate work across generations provides that coordination without the overhead.
This is general information, not personalized advice.
Ready to talk?
One plan for the whole family starts with a conversation.
No pitch. No pressure. Just a conversation about your family, your plans and whether we might be a good fit. If you are carrying more than your own finances, let’s talk.
Or call (908) 561-6203
Tilson Financial Group brings clarity, confidence, and presence when it counts.
The Tilson Financial Group, Inc. is a Registered Investment Adviser registered with the Securities and Exchange Commission. The material provided is for educational purposes.
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