Privately Held Business: Transition to a family member

One of the goals of estate planning is to maximize the value of the wealth you pass to your family members while minimizing the impact of taxes through trusts. However, an equally important objective is determining what these trusts should provide—and what that means for your family. If you’re unsure where to start, answering some basic questions can help facilitate the planning process.

In this episode we are going to talk about enhanced planning. This is the planning you do beyond wealth management. Some of you may refer to it as estate planning or advanced planning. We talk about how to protect your legacy and preserve family harmony.

It’s undeniable that 2020 has been a year of unprecedented surprises, and this year’s election promises to present even more uncertainty given the stakes. With such polarized policies from both candidates, a win in either direction could profoundly impact wealth management planning in 2021 and beyond.  In this episode of Key Wealth Matters, Gary is joined by Jeffrey T. Getty, Director of Family Wealth Consulting, and Family Wealth Strategist Lisa Clifford to tackle what you need to know about estate and tax planning in the wake of the 2020 election. Listen to this discussion around and how to stay flexible regardless of the election outcome and how to position yourself for various financial opportunities. Don’t miss your chance to take steps and prepare, as our experts:Account for the impact or changes a Trump or Biden administration would propose related to tax and estate policyReview strategies to leverage the existing tax exemption laws to lower taxable estate costsFactor for charitable vehicles as a tax mitigation strategy within a wealth planPractical steps families can take to get started on their preparations

In episode four, Michael Merlin, Founder and Private Wealth Advisor at Merlin Wealth Management talks about a topic at the core of MWM's business: Financial Planning 101. Please visit https://rcm.rockco.com/merlin for more information about Merlin Wealth Management at Rockefeller Capital Management.