Family Business Forum

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Is the Cloud Finally Lifting? Practical Planning for and Administration of Our Clients’ Digital Assets

This presentation explained how to identify a client’s key digital assets; described how tech companies are coming up with their own private solutions to these issues; reviewed the evolution of contact, cyber-security, and probate law and legislative and lobbying history that led to the widespread adoption of the Revised Uniform Fiduciary Access to Digital Assets Act (“RUFADAA”) across America in 2016 and 2017; and provided practical insight as to how to plan for and administer these assets.

By | August 8th, 2017|Family Business Forum, Family Office Summit, Technical Corner|

How Do We Get Everybody on The Same Page?

Legacy families are complex, with various needs and stakeholders to satisfy, both now and over future generations.  Advisors serving these families often see only part of the picture, and what they see is rarely clear, even to the family.  How can we get everybody in the family on the same page, to then share that with their advisors? We have an open-source tool to share with PPI members, to improve and be used by all.  Our Family Continuity BluePrint is a tool that advisors use with families, helping clarify where they are now, and where they want to go.  

Wide-eyed, Unprepared, and Overwhelmed: A Perspective on the Mind of a Young Inheritor

Date: October 18, 2016 Guest Speaker: Kristen Heaney, MSW, BCC, Legacy Life Coaching, LLC As advisors, we aim to help client families plan for the unexpected, protecting their wealth from outcomes such as early death, bad marriages, addiction and more. It’s impossible to know, however, just how these plans will play out in real life when the worst case scenario unfolds. The legal and financial plans of Kristen Heaney’s family were put to the test when her father, a 49-year-old successful business owner was diagnosed with terminal cancer.  Still in college at the time of her father’s death just 6 weeks post-diagnosis, Kristen Heaney was completely unprepared to handle the substantial wealth her divorced father would pass on to her. Their lifestyle had been modest, and all signs of the magnitude of the wealth were well below the radar. In the midst of just graduating from college, and enrolling in graduate school to become a social worker at age 21, she found herself catapulted into a strange, complex and unfamiliar world filled with family business succession, investments, legal structures, lifestyle choices, relational challenges, and a number of internal adjustments. This session offers a snapshot into the mind of the rising generation as we hear about how she navigated that steep learning curve, and the lessons she learned about herself, the advisory world, and the land of wealth. She highlights the impact of values she grew up with, why and how she came to choose advisors (hint, she fired her father’s advisors), and how she is now raising her own children in ways that she hopes are wealth savvy.