Building a Lasting Legacy—A Korean Family’s Journey to Philanthropy and Wealth Succession

Our team would begin by engaging the entire family in thoughtful discussions about their charitable vision, the values they wished to pass on, and their long-term goals for both giving and wealth succession. We would explore the benefits of creating a private family foundation, such as tax advantages, asset protection, and the opportunity to involve their children in meaningful ways.

Working alongside the Kim’s legal and tax professionals, we could assist with the foundation’s framework to support educational, cultural, and health care initiatives that resonated with the family’s heritage and aspirations.

Within the foundation’s governance structure, we could structure it to reflect the Kim’s desire for collaborative decision-making and the inclusion of the next generation in leadership roles.

Throughout the process, our advisors would aim to provide culturally attuned guidance, to help the family navigate the intersection of tradition, modern wealth planning, and charitable impact. We could facilitate workshops and family meetings to educate the children about foundation management and investment stewardship, to strengthen both financial literacy and family bonds.

Through Focus Partners’ holistic, culturally connected wealth advisory services, we strive for families like the Kims to enjoy the satisfaction of seeing their foundation make a meaningful difference in their community while also uniting their family around shared values.

The above illustrations are not actual client experiences; rather, they are examples of some issues clients may face and why they may seek our services. The information provided does not purport to present a complete picture, but Focus Partners believes the information is representative of issues and needs fac¬ing some clients and why they may seek this service. The fictional scenario and examples described are hypothetical in nature and are provided to demonstrate various questions clients may encounter. The scenario is not intended to predict future outcomes. Nothing contained in this presentation may be relied upon as a guarantee, promise, assurance, or representation as to the future. This should not be construed as specific investment, tax, or legal advice. Individuals should seek advice from their wealth advisor or other advisors before undertaking actions in response to the matters discussed. No client or prospective should assume the above information serves as the receipt of, or substitute for, personalized individual advice. Please be advised that Focus Partners only shares video and content through our website or other official sources. Services and investment advice are only provided pursuant to an advisory agreement with the client. Services are offered through Focus Partners Wealth, LLC (“Focus Partners”), an SEC registered investment adviser with offices throughout the country. Registration with the SEC does not imply a certain level of skill or training and does not imply that the SEC has endorsed or approved the qualifications of Focus Partners or its representatives. Prior to January 2025, Focus Partners was named The Colony Group, LLC. Focus Partners has been part of the Focus Financial Partners partnership since 2011.