Access Wealth Strategies

As Bill Gates’ mother wisely reminded him, with great wealth comes great responsibility (and complexity). While we all aspire to creating more wealth (whatever your definition of it is), it’s important to understand the impact of our wealth for our own sake and for future generations long after we’re gone.

Perhaps you have a successful family business built over a lifetime of hard work that you’d like to someday pass on to the next generation. Maybe you have a significant asset base to transfer to your children and give to charitable causes.

We’ve all heard that teaching a man to fish for himself is preferable to giving him fish for a day. So how about transferring your financial assets to the next generation? Do you have a plan to transfer your values as well?

Traditional financial planning is woefully lacking in addressing the need to transfer more than just money to the next generation, especially when the succession of a family business is involved.

Listen to my recent interview with my friend Korbett Roberts from Benefit Concepts, Inc. as he explains what “values based integrated wealth planning” means, and how his firm helps clients navigate the plethora of choices for business succession planning and inter-generational wealth transfer based on their individual values.

Note: the interview is about 34-min. long.

You’ll hear some great examples from Korbett, including why one family rejected a $1.6 billion cash offer for their family business and sold it for $400 million less!

You’ll also learn about:

• The 3 most common threats to inter-generational wealth planning
• The issue of equitable vs. equal transfer of wealth to the next generation
• What your “financial independence number” means
• Some strategic and unique uses of life insurance policies, including one that leverages your tax deduction and charitable giving

Please add your comment and let me know which parts of the interview you found the most helpful and what topics you would like to learn more about.  I will do follow-up interviews to cover these topics in more detail.