Wealth is like a blazing fire; it can cook and warm or it can burn and destroy. And which it does to your heirs depends, to a great extent, on how you hand it off to them. This very real danger is commonly recognized by families with wealth which is why so much of heirs’
Of all the issues that affluent parents confront in planning, none consumes more time and emotional energy than that of inheritances—and for good reason. There is no area of the planning that could be more devastating to a family than an ill-thought out or ill-timed inheritance. Over the past several decades, I have had the [...]
Over the decades we have observed that 95% or more of wealthy families focus their wealth transfer planning almost exclusively on minimizing taxes and drafting appropriate documents. They think that by using the most sophisticated planning and tax reduction techniques and drafting airtight legal documents, they can ensure the successful transfer of their wealth to [...]
