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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

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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

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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

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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

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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

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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

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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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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