Blog


20Sep 2006

Taxes and Family Conflict: Part II

Well, it happened again. In working with a two-generational family, the issue of taxes and personal values came up. Although there was a little bit of conflict, the real issue was confusion: “What should I do?” And the confusion was caused by an advisor’s sole focus on reducing taxes, rather than hearing the real desire of the client. The matriarch

14Sep 2006

Avoiding Capital Gains Tax Causes Family Conflict! (or Don’t Let Tax Decisions Drive All of Your Decisions)

Yes, the title reads somewhat like a National Enquirer headline, but it’s true – focusing solely on avoiding taxes (whether capital gains tax, income tax, or estate taxes) can lead to family conflicts. This past week I had the opportunity to meet with a family, to review their wealth transfer plan and their plans for giving to charity. As is

05Sep 2006

Emotional Intelligence & Lessons Learned from Millionaires

This past Sunday, one of the lead articles in Parade magazine (the magazine inserted into millions of Sunday newspapers) was on emotional intelligence. The article was written by Daniel Goleman, who is one of the “founding fathers” of the concept of emotional intelligence and who has written groundbreaking books on the subject (I personally have found Working with Emotional Intelligence

29Aug 2006

The College Question: Given the high cost of college today, is getting a degree “worth it”?

Given the time of year – early fall, with classes starting up at many colleges and universities – it is time for the media blitz on “the college question”. Different media sources frame the question in different ways. Foxnews.com has had a series recently on the topic, including “Is college worth the money?” and “Choosing a College: Liberal Arts vs.

21Aug 2006

Don’t Leave!! What Do You Want? — Key Concepts for Retaining Employees (It’s easier than hiring new ones)

One of the biggest headaches for employers and managers is the process of finding new employees. Employee hiring takes a lot of time and emotional energy and most managers are not trained in the process. Add to this scenario the fact that there is a shortage of quality employees in a number of fields. For example, in a recent article

15Aug 2006

What is a Family Coach? Assisting Families in Business Reach Their Goals

“Family coach” is a relatively new term – and a new field. There are maybe 10-20 of us in the United States. There are a lot of business consultants, and even a lot of family business consultants who assist the owners and managers of family owned businesses. But most consultants focus on the business side, because that is their professional

11Aug 2006

Globalization and Career Development – One Problematic Result: Too Many Choices

In my work with families across the country, most of them significantly wealthy families, one issue I continually address is the challenge of career development and college choice for young adults. Globalization, as Thomas Friedman has shown in his book The World is Flat, is a huge factor affecting career choices today (www.thomaslfriedman.com). “The great irony is that children from

08Aug 2006

Good Example: The Value of Family Meetings in Transferring Wealth to the Next Generations

In this month’s (August 2006) edition of Worth magazine, there are a number of articles which deal with the challenge of successfully transferring wealth to the succeeding generations. This is an area which I focus upon professionally — helping financially successful families figure out “how much” to leave to their heirs, and how to do so in a healthy way.

03Aug 2006

Let Them Grow Up and Become Adults: Relating Effectively to Your Adult Children

One of the most common themes I have seen in relationships between older adults and their children (who are now adults themselves) is how the kids (although they are 25, 30, even 40 and beyond) still act like “kids”. And part of this is because their parents continue to come to their rescue when their children make poor choices. Parents

02Aug 2006

Parenting Adult Children: You Can't Send Them to "Time Out" Anymore

The dynamics between parents and their kids changes as both get older — this is true when children move from toddlers to school-age to teens and beyond. It is especially true when they become adults. Here are some new skills needed in these adult-adult relationships (from article, “The New Generation Gap” in the July edition of Worth). To a great

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