Month: February 2024

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Case Study: How Upline Planning Helps Families Preserve Wealth Through Generations (Ep. 121)

Case Study: How Upline Planning Helps Families Preserve Wealth Through Generations (Ep. 121)

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How can generational planning help secure your family’s wealth for the future?

Today on The Truth About Wealth, John and Michael Parise get together for a follow-up from the previous episode about upline generational planning.

This week, they explore two case studies: the first concerning a family business owner with asset protection needs due to the father’s illness and estate tax exposure, and the second involving a family’s desire to establish a philanthropic foundation.

The discussion covers the importance of estate planning documents, beneficiary designations, charitable trusts, and aligning philanthropic efforts with family values.

Talking points include:

  • Case studies related to estate planning and asset protection
  • The importance of involving multiple generations in the wealth planning process
  • How to minimize tax exposure and protect family assets
  • Charitable planning and the use of charitable remainder trusts
  • The value of educating families about planning strategies and potential impact on taxes and wealth preservation
  • And more!

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Connect with John and Michael Parise:

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Upline Planning: What it is & Why You Need to Do it (Ep. 120)

Upline Planning: What it is & Why You Need to Do it (Ep. 120)

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Why is generational planning crucial for protecting your family’s wealth?

Today, John and Michael Parise discuss upline planning with a focus on the importance of generational planning and asset protection. They highlight the potential conflicts within families during asset distribution and the value of trusts. 

John and Michael also explore a strategy to maximize income tax basis and estate planning objectives for families. They emphasize the need for open conversations between generations and the role of advisors in guiding families through complex issues.

Talking points include:

  • What upline planning is, and why it’s crucial for families
  • Potential conflicts within families when distributing assets
  • The value of trusts in asset distribution and protection
  • How to minimize estate tax exposure and protect assets from creditors by “generational skipping”
  • Strategies for approaching conversations with the older generation
  • How to maximize income tax basis and estate planning objectives for families
  • The importance of open and honest conversations between generations
  • Why you should be proactive with your advisor and discuss wealth preservation and protection
  • And more!

Connect with John and Michael Parise: