Lifetime Income Series: The Ultimate Gift

The holiday season is upon us, and in that spirt the focus of this week’s program is on charitable giving and the passing on of a legacy to one’s heirs, specifically how to pass on a legacy that is meaningful, will maintain family harmony, and ensure the smooth transition of intergenerational wealth. Jim begins by discussing the tax implications of making charitable gifts, as well as explaining the workings, and the advantages, of a Charitable Remainder Trust. He uses specific examples to illustrate the benefits. The guests this week are Roy Williams and Amy Castoro of The Williams Group. Roy is the co-author of Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values. Roy and Amy address the major causes for the 70% failure rate in estate transitions, which lie within the family itself and are within the family's control. They discuss their step-by-step process in teaching family members the necessary skills to transfer wealth successfully to the next generation.

Financial Sense Wealth Management: Invest With Us
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