Read more about the article Communication across generations.

Communication across generations.

You pride yourself on being a great communicator. You can present to any board of directors, woo diverse clients and raise funds for your favorite charities without breaking a sweat. The same feels true when it comes to your children. You’ve bonded during vacations and over their academic triumphs (and failures); you’ve encouraged them to come to you with any problem so you can sort it out together. Yet, when it comes time to talking about your wealth – specifically, what will happen when they inherit it – you may find yourself tongue-tied. Maybe you were raised that talking about money is inappropriate; maybe you don’t want your kids to overly rely on your wealth or let it define them. Whatever the case, current events have reminded us that the time for procrastination is over. Here are some simple…

Continue ReadingCommunication across generations.
Read more about the article Through succession planning, you can ensure the survival of your wealth how you invision to best serve the next generation.

Through succession planning, you can ensure the survival of your wealth how you invision to best serve the next generation.

Many were shocked when Gloria Vanderbilt passed away in June of 2019 – not because of her death (the fashion icon and socialite was ninety-five years old), but because she had not left a trust fund for her son, CNN news anchor Anderson Cooper. Of course we’ve heard this before, the most famous example being Warren Buffett, who has stated that his succession plan, is to give away the bulk of his $77 billion fortune rather than willing it to his kids. For most people, the idea of disinheriting one’s children borders on cruelty. For some of the wealthiest, however, it is the ultimate act of love. They worry that kids who inherit fortunes tend to lack the drive, initiative and perseverance needed to succeed on their own. Gloria Vanderbilt was an exception – she inherited $5 million dollars…

Continue ReadingThrough succession planning, you can ensure the survival of your wealth how you invision to best serve the next generation.
Read more about the article FOUR WAYS COVID HAS CHANGED OUR APPROACH TO WEALTH MANAGEMENT

FOUR WAYS COVID HAS CHANGED OUR APPROACH TO WEALTH MANAGEMENT

The Covid pandemic has made us reevaluate nearly everything in our lives – from our jobs and where we want to live, to our relationships with others and the best way to educate our children. It is also changing the way we think about our money, both in the present and in anticipation of an uncertain future. If, like many, you’re thinking it has never been a better time to take a more hands-on approach to estate planning, here are some thing to consider.   Building Wealth: Covid has changed the daily needs of the public, which in turn has affected financial markets and created opportunities for investors to grow their private wealth. For example, gaming, already a popular activity, has increased dramatically during the pandemic, when people were largely confined to their homes. This has caused a huge…

Continue ReadingFOUR WAYS COVID HAS CHANGED OUR APPROACH TO WEALTH MANAGEMENT