Jonathan Forster, housed in Washington, D.C., maintains a nationwide law practice in BakerHostetler's Private Wealth Group. His entrepreneurial background, coupled with his life insurance and investment management history, provide him with a unique approach to managing family legacies.
Jonathan’s occupation of providing legacy management for successful families was shaped early on in his career when he began working for EF Hutton as an investment manager and life insurance professional in the 1980s. Following law school, he served as counsel to a multi-family office and its wealthiest clients, becoming intrigued by the amount of time and numerous disciplines required by families to manage their legacies, and the systematic, disciplined approach they employed. Forster realized the importance of having a financially integrated, proactive management approach to legacies.
As a result, Jonathan developed a four-step proprietary system, integrating multiple financial disciplines using financial analytics to identify lifestyle versus legacy capital; manage current capital risks and future exposure; map family resource allocations and tax exposure; link technology to aggregate client data and offer improved client reporting; and employ a management process that utilizes regular oversight and, ultimately, a family summit: a full-on educational roundtable to develop best ideas and educate the next generation. This process and its four phases -- when coordinated with a clear mission, benchmarking, stewardship and philanthropy -- provide a far greater platform for success. Families with direction, purpose and vision, along with leadership and execution, realize their goals.