Wealth Transfer


28Sep 2006

The Centrality of Trust and Communication in Wealth Transfer

In today’s Wichita Eagle business section, I have an article entitled “Family-owned businesses still power U.S. economy.” There are actually two main points in the article. First, many people do not realize how many family-owned businesses there are – 89 per cent of all U.S. businesses. And these companies create 78 percent of all new jobs in our economy. Common

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

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