Case Studies – The Truth About Wealth

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

By thetruthaboutwealth | February 21, 2024

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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!

Resources:

Connect with John and Michael Parise:

Navigating Blended Families and Estate Taxes: A Case Study Discussion (Ep. 109)

By thetruthaboutwealth | September 6, 2023

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Are you struggling with complex estate planning situations?

In this episode, John and Michael Parise uncover two case studies, one that worked and one that didn’t.

Throughout the two case studies, Michael explains his role in the estate planning process and the challenges of working with a business owner with significant estate tax exposure. Adding to the conversation, John emphasizes the importance of balancing fairness and equality when dealing with multiple beneficiaries in estate planning.

John and Michael discuss:

The challenges of working with a business owner with significant estate tax exposure and a lack of liquidity to pay for it
Why it’s important to balance fairness and equality when dealing with multiple beneficiaries in estate planning
The different challenges that can arise when estate planning with business owners and beneficiaries across multiple generations
How their impact on families’ financial planning is compounded through generations
And more!

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Here’s How Copper Beech Helps Business Owners Plan For Generational Wealth (Ep. 102)

By thetruthaboutwealth | May 3, 2023

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Today’s topic is pertinent to business owners. If you’re grappling with unique financial challenges related to entrepreneurship and business ownership, this episode is for you.

This week, John and Michael Parise explore a case study about a client who owns a business. They provide a detailed walkthrough of their process from start to finish while detailing how they helped the client gain a generational wealth mindset by emphasizing education around how he thought about his finances.

John and Michael discuss:

The three key areas the client wanted to focus on and sought help from Copper Beech
Copper Beech’s approach to managing wealth for future generations (long-term instead of short-term planning)
Why family meetings were critical to the planning process
The recommendations their client’s family implemented and why
And more!

Resources:

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Cost Segregation In Real Estate with Isaac Downing (Ep. 92)

By thetruthaboutwealth | October 5, 2022

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Cost segregation in real estate has been a taboo subject for many investors.

However, there are several tax benefits to consider when implementing cost segregation within the properties you own.

In this episode of The Truth About Wealth, Michael Parise sits down with Isaac Downing, regional director at Capstan Tax Strategies. Isaac unpacks the ins and outs of cost segregation and its role within your real estate properties. Isaac also details Capstan’s approach to supporting clients with different case studies around the subject.

Isaac discusses:

The advantages of cost segregation
Tax laws affecting cost segregation
What you should know about bonus depreciation
Who qualifies for cost segregation
And more!

Resources:

Cost Segregation Case Studies

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Connect with Isaac Downing:

About Our Guest:

Over the last decade, Isaac Downing has played every role in the cost segregation industry – he’s been an engineer performing studies, an accountant reviewing studies, and a salesperson selling studies. Now he’s bringing that wealth of experience – and the associated unique perspective — to Capstan Tax Strategies.

It’s not typical for salespeople to have accounting and engineering experience, but Isaac is anything but ordinary. A proud Marine, Isaac spent 4 years as a USMC Engineer, and then earned an additional degree in Accounting and Finance.

Episode 55 – Case Studies: Annuities as Helpful Multi-Generational Planning Tools – Part 2 – With Michael R. Harris, CFP®, ChFC

By thetruthaboutwealth | April 28, 2021

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Annuities can be hugely beneficial for multi-generational planning, but how do you really go about doing that? What are the technical components of including annuities in your plan?

In part two of this two-part series, Mike Harris, senior education advisor at the Alliance for Lifetime Income, once again sits down with John and Michael Parise to explain the use of annuities as multi-generational planning tools, sharing successful case studies and real-life experiences.

In this episode, you will learn:

The emotional components of annuities and planning: Creating legacies as a way to remember loved ones
The eye-opening truth about annuity guarantee and protection policies
How to use annuity structures for special needs children
How and why it’s important to use the correct annuity for your situation within your plan
And more!

Remember, annuities for multigenerational planning need the assistance of a financial advisor. Discover how you can get started today!

Resources: Part 1 | Copper Beech Financial Group: (856) 988-8300 | Michael R. Harris, CFP®, ChFC | The Alliance for Lifetime Income