Category Archives: Finance

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Episode 26 – Is Your Estate Plan Public or Private?



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


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Episode 25 – What is Estate Equalization?



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


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Episode 24 – Case Study: Charitable Planning



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


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



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


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Episode 22 – Buy-Sell Agreements Can Save You Millions



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


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



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 

 


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Episode 20 – Turn Your Philanthropy Into a Generational Project



There are many reasons to include philanthropic practices in your family’s overall financial plan. 

In this episode, John and Michael Parise discuss the basics of philanthropic planning for families, including how families can work together to choose charities and how this plan should fit into your generational wealth strategy. 

In this episode, you will learn:

  • How philanthropic practices will impact your taxes
  • Why the generational aspect of financial planning will impact your philanthropy
  • Ways to involve children in philanthropic planning and how they benefit from this project
  • How you can retain the value of some of the assets you plan on giving to charity
  • And more!

Tune in and learn about the basics of philanthropic giving!

Resources:  Copper Beech Financial Group


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Episode 19 – Life Insurance as an Asset Class



When you consider what your assets are, you might think of belongings such as your car, house, technology, and other valuable possessions. But did you know that your life insurance policy is also an asset?

In this episode of The Truth About Wealth Podcast, John and Michael Parise discuss life insurance and how you can use it as an asset class.

In this episode, you will learn:

  • How life insurance as an asset fits into the tax conversation
  • The differences between life insurance policies and retirement accounts when it comes to accessing funds throughout your life
  • Various case studies that will help you understand how to use life insurance as an asset class
  • What it means to be selfish with your retirement funds and why it’s not recommended
  • And more!

Tune in now to learn about life insurance as an asset class!

Resources:  Copper Beech Financial Group


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Episode 18 – Market Talks With Paul Dietrich, Fairfax Global Markets LLC: Part 2



Unless you’ve been living under a rock, you know that China and the U.S. are in the midst of trade negotiations. 

In this episode of The Truth About Wealth Podcast, Paul Dietrich returns to finish the market discussion with John and Michael Parise. Listen in as Paul shares his insights on the agreement — or lack thereof — between China and the U.S.

In this episode, you will learn:

  • About changes from recent trade negotiations between the U.S. and other countries
  • Paul’s thoughts on tariffs between China and the U.S.
  • What it means to be classified as a “currency manipulator”
  • What underlying political effects the trade negotiations may have
  • And more!

Tune in to hear Paul’s opinions and expertise about the impact of trade negotiations between China and the U.S. 

Resources:  Copper Beech Financial Group | Fairfax Global Markets | Paul Dietrich LinkedIn | Episode 21 – Market Talks With Paul Dietrich, Fairfax Global Markets LLC: Part 1


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Episode 16 – Private Insurance Structure — With Guest Mark Sims: Part 2



In this episode of The Truth About Wealth Podcast, guest Mark Sims returns to answer more questions about private insurance structure, including how they function across the United States and Puerto Rico.

In this episode, you will learn:

  • The top 10 most popular risks that individuals insure themselves against
  • Reasons for using private insurance structure to protect yourself from catastrophic consequences
  • What the ongoing annual cost of private insurance is for clients
  • The overall benefit of having private insurance for you, your family, and your business
  • And more!

Tune in to hear the second part of Mark Sims’ series on private insurance structure!

Resources:  Copper Beech Financial Group | Captive Alternatives | Episode 15: Private Insurance Structure — With Mark Sims: Part 1