Date: April 10, 2018Time: Noon ET (60 Minutes)Guest Speaker: Elizabeth Lombardo, Ph.D., Speaker, Psychologist and Best Selling Author Host: John A. Warnick, Esq., Founder, Purposeful Planning InstituteDo you have concerns about how your wealth will impact your children? Are you troubled by the statistics that children of wealth have higher rates of depression, anxiety, and unethical behaviors? Do you want to [...]
Date: March 27, 2018Time: Noon ET (60 Minutes)Guest Speaker: Richard Orlando, President, Legacy Capitals, LLCHost: John A. Warnick, Esq., Founder, Purposeful Planning InstitutePPI Member Richard Orlando has recently completed a survey for College-Age Millennials' on their perceptions and behaviors around money and money issues. In this session, we will speak to Richard about the valuable information obtained through [...]
Date: February 20, 2018 Time: Noon ET (60 Minutes) Guest Speaker: Kevin Quinn, Co-Founder and President, Independent Trustee Alliance Host: John A. Warnick, Esq., Founder, Purposeful Planning Institute The Independent Trustee Alliance (ITA) was born from collaboration and professional relationships established at PPI Rendezvous. We believe the independent trustee is a rising profession though one that is [...]
What is the Best Kind of Legacy to Transfer to Your Children and Grandchildren? Why Do 90% Mess It Up?
Unintended Consequences! No one likes negative surprises, especially after planning carefully and perhaps paying thousands of dollars to avoid them. Merely sounding the alarm on the hidden dangers of inherited wealth does little to solve the problems. And sometimes the greatest risks aren’t foreseen. How are these risks being missed? In this session, we explore 14 elements of successful wealth transfers.
Being named a trust beneficiary brings the prospect of receiving wealth. Nevertheless, beneficiaries may feel resentment — not at being beneficiaries, but at lacking control over the trust. While some limitations on the powers of beneficiaries may have been imposed for good reasons, other restrictions may not be necessary. By including beneficiaries in a trust’s governance, one can also improve the long-term financial stewardship. Thus, when designing trusts, estate planners should explore with clients what powers can appropriately be given to beneficiaries. Two case studies are discussed where powers were given to beneficiaries.