In the heart of Syracuse's city hall, a pivotal discussion unfolded during the Common Council Study Session on May 21, 2025. Councilors gathered to explore a new initiative aimed at empowering residents through financial education and legacy planning. Michael Cowans, the Commissioner for the Department of Neighborhood Business Development, introduced a proposal to apply for a $50,000 grant from the Cities for Financial Empowerment. This funding would enhance training for counselors, equipping them to assist clients in navigating the complexities of estate planning and generational wealth preservation.

The urgency of this initiative stems from the alarming trend of families losing generational wealth due to inadequate estate planning. Cowans emphasized that while the training would not turn counselors into lawyers, it would provide them with essential tools to guide clients toward financial stability and legacy management. The introduction of Rafiki Fuljens, the newly appointed manager of the Financial Empowerment Center (FEC), added a personal touch to the meeting. Fuljens expressed his enthusiasm for the role and the importance of the program in helping residents manage their finances effectively.

The FEC currently focuses on four key pillars: credit management, budgeting, savings, and banking relationships. With the proposed grant, a fifth pillar—legacy planning—would be added, aiming to educate clients on maintaining and passing down their wealth. This includes guidance on property inheritance, especially for those dealing with intestate situations where a deceased individual left no will.

Councilors raised pertinent questions about the initiative's reach, particularly concerning residents facing foreclosure or those unaware of their options after losing a family member. Cowans reassured them that the FEC aims to connect with these vulnerable populations, ensuring they receive the necessary education and support to protect their assets.

As the meeting concluded, the councilors left with a renewed sense of purpose, recognizing the potential impact of this initiative on the community. The proposed grant not only represents a financial opportunity but also a commitment to fostering a culture of financial literacy and empowerment in Syracuse. The discussions hinted at a brighter future for residents, one where they can confidently navigate their financial journeys and secure their legacies for generations to come.