Finance – Page 11 – The Truth About Wealth

Episode 30 – A Family Mission Statement is Key for Your Legacy

By thetruthaboutwealth | April 8, 2020

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Family mission statements are one of the most important parts of our clients’ financial legacies.

In this episode of The Truth About Wealth Podcast, John Parise tackles the subject of family mission statements, and why they are the key to your legacy.

In this episode, you will learn:

How the Copper Beech team approaches these letters with families
The purpose of a family mission statement
The process of establishing the mission statement
The difference between the mission statement and legacy letters
How the mission statement helps to create equity in the family
And more!

Tune in to this episode to learn about family mission statements!

Resources

Copper Beech Financial Group

Episode 29 – A Recession on the Horizon with guest Paul Dietrich — Part 2

By thetruthaboutwealth | March 25, 2020

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Like most things in life, the economy fluctuates, and it can’t continuously be on an upswing.

Paul Dietrich is back with part two of this mini-series for The Truth About Wealth Podcast about the realities of the economy and the potential of an upcoming recession.

In this episode, you will learn:

How international trade plays into the economic situation
How the outcome of the American election will impact the financial sector
The impact of other international markets on the American market
And more!

Tune in to learn about the state of the market with Paul Dietrich!

Resources Copper Beech Financial Group

Episode 28 – A Recession on the Horizon — with guest Paul Dietrich

By thetruthaboutwealth | March 18, 2020

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As much as you may want it to, the economy cannot be stable forever. Many experts are predicting an impending recession, potentially as soon as this year.

In this episode of The Truth About Wealth Podcast, Michael Parise sits down with returning guest Paul Dietrich, Copper Beech’s chief investment strategist, to talk recessions, the indicators and how to prepare.

In this episode, you will learn:

Where we sit today in terms of the economy
Indicators to watch for when predicting a recession
How to prepare clients for an upcoming recession
Why investors might refer to the 2000s as “the lost decade”
And more!

Tune in to learn how to handle an upcoming recession.

Resources Copper Beech Financial Group

Episode 27 – Options to Reduce Your Taxes for Your IRA — With Mary Read, CPC, CPFA, QPA

By thetruthaboutwealth | March 4, 2020

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Let’s face it — saving money in taxes is always going to be a major goal of financial planning.

In this episode, John and Michael Parise discuss tax-saving measures you can take with your IRA, with special guest Mary Read, CPC, CPFA, QPA, and national director of pension and protection planning at Pentegra Retirement Services and partner at M and R Business Development Group.

In this episode, you will learn:

The impact of the SECURE Act on the rules of tax savings in IRAs
The differences between treatments for different assets
How to use access benefits through life insurance and qualified plans
Why you may want to consider giving your beneficiaries ownership of your benefits
How these changes are a game-changer for high net-worth families
And more!

Tune in to learn about your options to reduce taxes for your IRA.

Resources Copper Beech Financial Group | Pentegra Retirement Plan Services

Episode 26 – Is Your Estate Plan Public or Private?

By thetruthaboutwealth | February 12, 2020

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Is your estate plan private or public? Do you even know what type of plan you have?

In this episode of The Truth About Wealth Podcast, John and Michael Parise discuss estate plans, why they are typically in the public domain, and how to avoid a public process.

In this episode, you will learn:

Why estate plans are public from a legal standpoint
The issues you have to address with changing your legal documents
How to avoid the probate process
How courts may look at public estate plan challenges in certain situations
And more!

Tune in for tips about privatizing your estate plan!

Resources Copper Beech Financial Group | 10 Eye-Opening Questions to Protect Your Wealth

Episode 25 – What is Estate Equalization?

By thetruthaboutwealth | January 29, 2020

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It’s possible that you’re familiar with estate equalization, even if you’ve never heard of it until now.

In this episode of The Truth About Wealth Podcast, John and Michael Parise explain why it’s important to discuss estate equalization during your family meetings. This is a must-listen conversation for parents of blended families, business owners, and anyone who is looking for guidance on how to split their estate.

In this episode, you will learn:

Why “equal” doesn’t necessarily mean splitting your estate evenly
Why it’s important to include your children and grandchildren in the conversation
How different assets may be weighted in determining equality
Why emotions should be kept out of the decision-making process
And more!

Tune in to learn John and Michael’s guidelines for approaching estate equalization.

Resources: Copper Beech Financial Group | Episode 8: The Importance of Family Meetings

Episode 24 – Case Study: Charitable Planning

By thetruthaboutwealth | January 15, 2020

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For so many high-income families, charitable giving is an important part of their financial plan. But what does it mean to include charitable giving to help you meet your own financial goals?

In this episode of The Truth About Wealth Podcast, John and Michael Parise share a case study about a family who included charitable planning in their financial plan. Listen in as they share valuable information about using charitable planning as a mutually beneficial financial option.

In this episode, you will learn:

How to use charitable giving to avoid paying estate tax
How this charitable giving can help to keep your family close
Why it’s critical to keep your team of advisors in the loop about your plans
How to use a family foundation to donate to various charities
And more!

Tune in today to hear this case study from John and Michael about charitable giving!

Resources: Copper Beech Financial Group

Episode 23 – Qualified Opportunity Zone Funds Updates — With Brandon Hughes

By thetruthaboutwealth | December 30, 2019

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Changes to tax laws made in 2017 saw an increase in qualified opportunity zone funds, and these are starting to have an impact on our clients.

In this episode of The Truth About Wealth Podcast, John and Michael Parise speak with Brandon Hughes of Peachtree Hotel Group about qualified opportunity zone funds and how they may impact your taxes.

In this episode, you will learn:

Why time may be of the essence to invest in a qualified opportunity zone fund
Which avenues you may have access to for saving money in taxes
Why Brandon’s experience in the hospitality sector makes him especially qualified to discuss qualified opportunity zone funds
How the markets impact the funds
And more!

Tune in to learn about changes in tax laws, including how you can use qualified opportunity zone funds to save money in taxes.

Resources: Copper Beech Financial Group | Peachtree Hotel Group | Brandon Hughes

Episode 22 – Buy-Sell Agreements Can Save You Millions

By thetruthaboutwealth | December 18, 2019

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When it comes to buying and selling, it’s critical that you understand the difference between public and privately held companies. While there is a readily available market for public ownership, buying and selling within a private partnership or company can be a bit more complicated.

In this episode of The Truth About Wealth Podcast, John and Michael Parise discuss why buy-sell agreements are so important and what you must know about them.

In this episode, you will learn:

What the common triggers are for buying and selling in a privately-held company
How business structure may impact your buy-sell agreements
Why you should account for capital gains taxes in these documents
Why a “wait and see” strategy can be beneficial
And more!

Tune in now to learn about the importance of buy-sell agreements!

Resources: Copper Beech Financial Group

Episode 21 — Doing Well By Doing Good With ESOPs — With Rick Jaye, AIF®, CRC®

By thetruthaboutwealth | December 4, 2019

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Exit planning is a major part of owning a business. And for many business owners, creating a plan that helps them do good by rewarding the employees that have helped them become successful is incredibly attractive.

Today, John and Michael Parise welcome Rick Jaye of Business Transition Advisors to explore the world of ESOPs. Rick breaks down all the benefits ESOPs can bring to a business and how they can be used to benefit not only a business but also its employees.

In this episode, you will learn:

What an ESOP is
How ESOPs compare to three other business exit strategies
Why ESOPs are so valuable for employers
The importance of a business’ cash flow when considering an ESOP
The unique tax benefits ESOPs offer
And more!

Join John, Michael, and Rick now and consider whether an ESOP is a suitable option for you and your business!

Resources: Copper Beech Financial Group | Business Transition Advisors | Capstone Headwaters