Preserve
Preserve your assets
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Set clear goals for family wealth based on clear family values.
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Anticipate asset growth over generations.
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Don’t fall into traps when titling assets.
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Understand tax erosion on retirement assets.
Preserve family harmony
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Take advantage of gifting and generation-skipping strategies.
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Remember that equal and fair are different for asset distribution.
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Don’t neglect safeguards for family members with special needs.
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Be aware of the impact on estate planning when a spouse remarries.
Preserve your business
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Don’t wait too long to groom family members for business ownership.
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Secure the employment of key people to support next generation owners.
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Let life insurance resolve active/non-active family owner conflicts.
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Understand the tax consequences for sellers and buyers.
Preserve your heritage
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Understand the challenges unearned wealth puts on young heirs.
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Make a family plan for stewardship of family assets.
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Use life insurance to expand opportunities for family philanthropy.
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Don’t complete your estate plan without disclosing decisions to heirs.