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Category: Multigenerational Values (page 1 of 2)

Complications in Putting Unborn Spoiled Brats to Work: Using Lessons from Labor Supply Theory to Design Incentive Trusts by John Michael Grant

John Michael Grant, has made available for download his paper, “Complications in Putting Unborn Spoiled Brats to Work: Using Lessons from Labor Supply Theory to Design Incentive Trusts.”  The Abstract is as follows::

Labor Supply Theory has never been applied to estate planning, despite its relevance to the design of

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Why Affluent Parents Clam Up About Their Incomes – NYTimes.com

Ron Lieber, of the New York Times, writes about the tendency of affluent parents to not discuss money with their children.  His article begins as follows:

We want our kids to come to us with anything and everything. We try to be as honest as we can about sex and

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Family companies: To have and to hold | The Economist

The Economist has a special report on family dynasties.  The primary article begins as follows:

FAMILIES HAVE ALWAYS been at the heart of business. Family companies are among the world’s oldest. The Hoshi Ryokan, an inn in Japan, has been in the same family since 718. Kongo Gumi, a Japanese

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New Book Published: Social Security Works

Co-authors Nancy J. Altman and Eric R. Kingson have their new book on the social welfare system just published. Both of them are very supportive expanding the current social welfare system and believe that doing so will achieve “greater economic security for all of America’s working families.” They explained in … Continue reading

Rich Parents, Indiscreet Children: Unexpected Impact of Affluent Upbringing

Last week, Thomas Gilbert Jr. was arrested for killing his father, Thomas Gilbert, a wealthy hedge fund manager. It was reported that the reason behind the murder was dispute over the allowance given by the father to the son. Although this tragic event seems an extreme case, experts warn that … Continue reading

Transition of Financial Planning When Financial Adviser Retires

When financial adviser reaches his age of retirement, the clients will have concerns about how their financial planning are to carry on and what the succession plans are. A study by Cerulli Associates dating back to August 2014 showed that 43 percent of financial advisers are over the age of … Continue reading

Private Trust Companies: Proceed With Caution

In response to a recent article about private trust companies (PTCs) on the Wall Street Journal, Kim Kamin comments that a PTC is indeed a good choice for ultra-high-net-worth families. However, she points out that the advantages of PTCs are generally limited to those who already have a fully … Continue reading

Facebook Chief Values Mistakes

Mark Zuckerberg, founder and chief executive of Facebook, addressed public questions at his second town hall meeting in Menlo Park, California, among which was his conception of making mistakes. He values mistakes as he said: “If you’re successful, most of the things you’ve done were wrong.” He also thought important … Continue reading

Pass of ABLE Act Sees Hope in Congress Hot Issues

The Achieving a Better Lifer Experience (ABLE) Act, which aims to remove bureaucratic obstacles to help Americans save for future, has passed Congress. Under the ABLE Act, people with disabilities are allowed a saving account up to $100,000 with tax-free treatment. Thus the ABLE Act helps pay for disability-related expenses … Continue reading

Why Objects Matter in Estate Planning

Tangible objects are often intertwined in family stories, symbolising certain milestones of a family’s journey as well as serving as a source of cohesiveness and tradition. Families should consider the  shifting significance of these objects caused by intergenerational transitions so as to avoid any potential conflict and/or litigation.

But on … Continue reading

Jimenez v. Corr: Mandatory Purchase Scheme under Shareholders’ Agreement Governs

The Virginia Supreme Court in Jimenez v. Corr rules that the closely-held company’s obligation to buy back a decedent’s share under the shareholders’ agreement governs how the company stock is going to be distributed.

The decedent died with 95 shares in a closely-held Virginia company, which, according to the shareholders’ … Continue reading

Things to Consider When an Unplanned Retirement Comes up

An unplanned retirement happens mostly due to an unforeseen health issue, a job layoff, a forced separation, or family responsibilities, and it comes up more often than people think. When it happens and people have to stop working earlier, it is logical to plan for benefits, among which the most … Continue reading

How Perspective Is Influenced by Money

Money subconsciously affects our life and the way we treat other people. Our judgment about how much money a man owns through our observation of his house, his car or even his phone does not necessarily match the reality. As a wealthy man with net worth of $4.2 billion would … Continue reading

Private Foundation Makes Possible to Extend Family Control over CRT/CLT

A charitable remainder trust (CRT) or a charitable lead interest (CLT) is usually of limited period of family control, with the former of the donor’s lifespan and latter of the term of the trust. Both CRT and CLT make distributions to charities, and at the same time grant tax savings … Continue reading

Keith Schiller: Estate Planning At The Movies®: How Estate Planning Can Stand Tall

Estate Planning At The Movies®How Estate Planning Can Stand Talli

by Keith Schiller

When The Game Stands Tallii tells the story of the essential qualities that created the greatest winning streak in football history. De La Salle High School, of Concord, California, under the coaching leadership of Bob … Continue reading

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