Most don’t do any planning to pass wealth forward, and those few that do focus on protecting the wealth from taxes so it makes it to their kids. It is far more important to prepare the kids for wealth. And what about the great grandkids you’ve not met, how do you prepare them too? Listen and find out!
Episode Highlights
- The risk of both alternative investments and market downturns.
- The importance of having control and insight over your money for long-term success.
- The concept of preparing future generations for their financial legacy.
- Preparing people for inherited money involves setting family values and creating processes that consider their core principles when making decisions.
- Gary touches on being anonymous as an asset protection strategy, but stresses that using legal structures is a better option.
- The basics of trusts, focusing on the two primary categories for this conversation: family and money.
- The differences between revocable and irrevocable trusts and their purposes in estate planning.
- Gary explores irrevocable trusts, the process of permanently giving away assets to protect them from liabilities and estate taxes.
Links and Resources from this Episode
- Connect with Gary Pinkerton
- https://www.paradigmlife.net/
- gpinkerton@paradigmlife.net
- https://garypinkerton.com/
- Entrusted book – https://www.amazon.com/Entrusted-Building-Legacy-That-Lasts/dp/0692558268
- https://www.yorkhowell.com/
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