family wealth counseling
DESCRIPTION
A better way to plan your estate.TRANSCRIPT
Maximum Wealth Control
StrategiesArthur J. Pauly, Jr.
Law Offices of Arthur J. Pauly, Jr.Roseville, CA
916-207-7526
Law Offices of Arthur J. Pauly, Jr.
• Practice Limited to Estate and Wealth Transfer
Planning.•Member Wealth Counsel, LLC.
CREATIVE PLANNING
Begins With . . .
CREATIVE PLANNING
Begins With . . .
CREATIVE THINKING
And . . .
CREATIVE THINKING
And . . .
CREATIVE THINKING
Begins With . . .
CREATIVE THINKING
Begins With . . .
PROBLEMPROBLEMConnect ALL 9 DotsConnect ALL 9 Dots
Use Only 4 CONTINUOUS Straight LinesUse Only 4 CONTINUOUS Straight Lines
PROBLEMPROBLEMConnect ALL 9 DotsConnect ALL 9 Dots
Use Only 4 CONTINUOUS Straight LinesUse Only 4 CONTINUOUS Straight Lines
Creative PlanningCreative Planning begins withbegins with
THINKING BEYOND . . .THINKING BEYOND . . .
Creative PlanningCreative Planning begins withbegins with
THINKING BEYOND . . .THINKING BEYOND . . .
THE BOXTHE BOX!!THE BOXTHE BOX!!
WHY IS THE WHY IS THE
APPROACH OF APPROACH OF
FAMILY WEALTHFAMILY WEALTH
COUNSELINGCOUNSELING
SO UNIQUE? SO UNIQUE?
WHY IS THE WHY IS THE
APPROACH OF APPROACH OF
FAMILY WEALTHFAMILY WEALTH
COUNSELINGCOUNSELING
SO UNIQUE? SO UNIQUE?
FAMILY WEALTH COUNSELING
is much more than simply looking at a
net worth statement, an estate tax table
and running the numbers.
FAMILY WEALTH COUNSELING
is much more than simply looking at a
net worth statement, an estate tax table
and running the numbers.
FAMILY WEALTH COUNSELINGExplores the . . .
Financialaspect of a family’s wealth.
FAMILY WEALTH COUNSELINGExplores the . . .
Financialaspect of a family’s wealth.Most ShallowMost Shallow
Most ImpersonalMost ImpersonalExtremely Well DefinedExtremely Well Defined
Easiest to DiscussEasiest to DiscussLeast ImportantLeast Important
Most ShallowMost ShallowMost ImpersonalMost Impersonal
Extremely Well DefinedExtremely Well DefinedEasiest to DiscussEasiest to DiscussLeast ImportantLeast Important
90% of All Estate90% of All Estate
Planning CurrentlyPlanning Currently
Being DoneBeing Done
BEGINSBEGINS andand ENDSENDS
at This Financial Level!at This Financial Level!
90% of All Estate90% of All Estate
Planning CurrentlyPlanning Currently
Being DoneBeing Done
BEGINSBEGINS andand ENDSENDS
at This Financial Level!at This Financial Level!
Traditional estate Traditional estate planningplanning
is nothing more than ais nothing more than a
series of unpleasantseries of unpleasant
business decisions thatbusiness decisions that
have to be made in have to be made in order toorder to
Traditional estate Traditional estate planningplanning
is nothing more than ais nothing more than a
series of unpleasantseries of unpleasant
business decisions thatbusiness decisions that
have to be made in have to be made in order toorder toMINIMIZE THE DAMAGEMINIMIZE THE DAMAGEMINIMIZE THE DAMAGEMINIMIZE THE DAMAGE
FAMILY WEALTH COUNSELINGExplores the . . .
Socialaspect of a family’s wealth.
FAMILY WEALTH COUNSELINGExplores the . . .
Socialaspect of a family’s wealth.More Complex
More PersonalNot Well Defined
More Difficult to DiscussVery Important
More ComplexMore Personal
Not Well DefinedMore Difficult to Discuss
Very Important
TraditionalPlanning
IGNORINGSocial Aspect
TraditionalPlanning
IGNORINGSocial Aspect
Family WealthCounselingINCLUDING
Social Aspect
Family WealthCounselingINCLUDING
Social AspectVS.
VS.
Controls Distribution ofFamily Social Capital
Controls Distribution ofFamily Social Capital GOV’TGOV’T FAMILYFAMILY
Efficient Use ofFamily Social Capital
Efficient Use ofFamily Social Capital LOWLOW HIGHHIGH
Personal FulfillmentPersonal Fulfillment LOWLOW HIGHHIGH
Motivation toImplement PlanMotivation to
Implement Plan LOWLOW HIGHHIGH
It’s the introduction of theseIt’s the introduction of these
Social variables into theSocial variables into the
traditional estate planningtraditional estate planning
equation that produces suchequation that produces such
exciting newexciting new
planning options!planning options!
It’s the introduction of theseIt’s the introduction of these
Social variables into theSocial variables into the
traditional estate planningtraditional estate planning
equation that produces suchequation that produces such
exciting newexciting new
planning options!planning options!
““INTEGRATING THE INTEGRATING THE FINANCIALFINANCIAL AND AND NON-FINANCIALNON-FINANCIAL
ISSUES”ISSUES”
““INTEGRATING THE INTEGRATING THE FINANCIALFINANCIAL AND AND NON-FINANCIALNON-FINANCIAL
ISSUES”ISSUES”
WHY IS THISWHY IS THIS IMPORTANTIMPORTANT??WHY IS THISWHY IS THIS IMPORTANTIMPORTANT??
BUSINESS SUCCESSIONBUSINESS SUCCESSIONBUSINESS SUCCESSIONBUSINESS SUCCESSION
70% of family businesses do not survive to the second generation
90% do not make it to the 3rd generation
70% of family businesses do not survive to the second generation
90% do not make it to the 3rd generation
PERSONAL WEALTHPERSONAL WEALTHPERSONAL WEALTHPERSONAL WEALTH
65% of the wealth that passes 65% of the wealth that passes to the 2nd generation is lost by to the 2nd generation is lost by
the end of that generationthe end of that generation
90% of the wealth that is passed is 90% of the wealth that is passed is lost by the end of the 3rd lost by the end of the 3rd
generationgeneration
65% of the wealth that passes 65% of the wealth that passes to the 2nd generation is lost by to the 2nd generation is lost by
the end of that generationthe end of that generation
90% of the wealth that is passed is 90% of the wealth that is passed is lost by the end of the 3rd lost by the end of the 3rd
generationgeneration
Traditional Estate Traditional Estate Planning Does Not Planning Does Not
Achieve A Family’s Most Achieve A Family’s Most Important Goals Important Goals 80%80% Of Of
The Time.The Time.
Traditional Estate Traditional Estate Planning Does Not Planning Does Not
Achieve A Family’s Most Achieve A Family’s Most Important Goals Important Goals 80%80% Of Of
The Time.The Time.
What Is Needed?What Is Needed?
Common MissionCommon Mission
Communication and TrustCommunication and Trust
Prepared HeirsPrepared Heirs
State-Of-The-Art Estate Planning State-Of-The-Art Estate Planning Techniques Techniques
Common MissionCommon Mission
Communication and TrustCommunication and Trust
Prepared HeirsPrepared Heirs
State-Of-The-Art Estate Planning State-Of-The-Art Estate Planning Techniques Techniques
The SolutionThe SolutionThe SolutionThe Solution
““Begin The Process With The Begin The Process With The End In Mind’’End In Mind’’
““Begin The Process With The Begin The Process With The End In Mind’’End In Mind’’
TRUST AND COMMUNICATIONTRUST AND COMMUNICATION
•ACCOUNTS FOR 65% FAILURE RATEACCOUNTS FOR 65% FAILURE RATE•FAMILY MISSIONFAMILY MISSION•FUNDAMENTALS OF COMMUNICATIONFUNDAMENTALS OF COMMUNICATION•THE ART OF LISTENING THE ART OF LISTENING •DISCUSSING MONEY, VALUES , AND FAIRNESSDISCUSSING MONEY, VALUES , AND FAIRNESS•CONFLICT RESOLUTIONCONFLICT RESOLUTION•TRUSTTRUST
•ACCOUNTS FOR 65% FAILURE RATEACCOUNTS FOR 65% FAILURE RATE•FAMILY MISSIONFAMILY MISSION•FUNDAMENTALS OF COMMUNICATIONFUNDAMENTALS OF COMMUNICATION•THE ART OF LISTENING THE ART OF LISTENING •DISCUSSING MONEY, VALUES , AND FAIRNESSDISCUSSING MONEY, VALUES , AND FAIRNESS•CONFLICT RESOLUTIONCONFLICT RESOLUTION•TRUSTTRUST
•ACCOUNTS FOR 25% FAILURE RATEACCOUNTS FOR 25% FAILURE RATE•FAMILY MEETINGSFAMILY MEETINGS•EVALUATE / HIRE ADVISORSEVALUATE / HIRE ADVISORS•MENTOR IN SOCIAL RESPONSIBILITYMENTOR IN SOCIAL RESPONSIBILITY•MENTOR IN FINANCIAL AFFAIRSMENTOR IN FINANCIAL AFFAIRS•INVESTMENT POLICY / STRATEGYINVESTMENT POLICY / STRATEGY•ESTATE PLANNING REVIEWESTATE PLANNING REVIEW
•ACCOUNTS FOR 25% FAILURE RATEACCOUNTS FOR 25% FAILURE RATE•FAMILY MEETINGSFAMILY MEETINGS•EVALUATE / HIRE ADVISORSEVALUATE / HIRE ADVISORS•MENTOR IN SOCIAL RESPONSIBILITYMENTOR IN SOCIAL RESPONSIBILITY•MENTOR IN FINANCIAL AFFAIRSMENTOR IN FINANCIAL AFFAIRS•INVESTMENT POLICY / STRATEGYINVESTMENT POLICY / STRATEGY•ESTATE PLANNING REVIEWESTATE PLANNING REVIEW
•ACCOUNTS FOR 10% FAILURE RATEACCOUNTS FOR 10% FAILURE RATE•BEGIN WITH THE END IN MINDBEGIN WITH THE END IN MIND•STRATEGIES TO FULFILL MISSIONSTRATEGIES TO FULFILL MISSION•ROLES / STANDARDSROLES / STANDARDS•TOOLS & TECHNIQUESTOOLS & TECHNIQUES•STRATEGY DRILLSTRATEGY DRILL
•ACCOUNTS FOR 10% FAILURE RATEACCOUNTS FOR 10% FAILURE RATE•BEGIN WITH THE END IN MINDBEGIN WITH THE END IN MIND•STRATEGIES TO FULFILL MISSIONSTRATEGIES TO FULFILL MISSION•ROLES / STANDARDSROLES / STANDARDS•TOOLS & TECHNIQUESTOOLS & TECHNIQUES•STRATEGY DRILLSTRATEGY DRILL
PREPARED HEIRSPREPARED HEIRS
EFFECTIVE PLANNINGEFFECTIVE PLANNING
The Quest for Personal The Quest for Personal SignificanceSignificance
The Quest for Personal The Quest for Personal SignificanceSignificance
For Most of Us...For Most of Us...For Most of Us...For Most of Us...
The Legacy we leaveThe Legacy we leave
is measured by the is measured by the
Strength of our FamilyStrength of our Family
The Legacy we leaveThe Legacy we leave
is measured by the is measured by the
Strength of our FamilyStrength of our Family
Growing aGrowing aStrongStrong
Family TreeFamily Tree
Growing aGrowing aStrongStrong
Family TreeFamily Tree
Primary VirtuesPrimary Virtues((Who You AreWho You Are))
Primary VirtuesPrimary Virtues((Who You AreWho You Are))
Core Values((What’s Important to YouWhat’s Important to You))
Core Values((What’s Important to YouWhat’s Important to You))
Primary VirtuesPrimary Virtues((Who You AreWho You Are))
Primary VirtuesPrimary Virtues((Who You AreWho You Are))
Core Values((What’s Important to YouWhat’s Important to You))
Core Values((What’s Important to YouWhat’s Important to You))
L i fe-PurposeL i fe-Purpose
(What You're Here to Do)(What You're Here to Do)
Generations from Generations from now parents want now parents want their family tree to their family tree to look like this . . .look like this . . .
Generations from Generations from now parents want now parents want their family tree to their family tree to look like this . . .look like this . . .
not like this . . .not like this . . .not like this . . .not like this . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
…to pass the entire value of my estate on to my children without paying any estate taxes?
Is that really possible?
…to pass the entire value of my estate on to my children without paying any estate taxes?
Is that really possible?
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
…to sell my appreciated assets and not pay a dime in capital gains taxes?
Is that really possible?
…to sell my appreciated assets and not pay a dime in capital gains taxes?
Is that really possible?
…that, after avoiding all these estate and capital gains taxes, the IRS is going to give me an additional current income tax deduction for opting out of paying these taxes?
Is that really possible?
…that, after avoiding all these estate and capital gains taxes, the IRS is going to give me an additional current income tax deduction for opting out of paying these taxes?
Is that really possible?
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
…to become a true philanthropist, supporting numerous charitable and social activities, and actually end up wealthier in the process?
Is that really possible?
…to become a true philanthropist, supporting numerous charitable and social activities, and actually end up wealthier in the process?
Is that really possible?
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
…to include some children in the family business, exclude some, yet have them all agree that the family wealth plan is fair?
Is that really possible?
…to include some children in the family business, exclude some, yet have them all agree that the family wealth plan is fair?
Is that really possible?
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
…to develop a wealth transfer plan that will enable me to maximize my family’s time, talents, and resources?
Is that really possible?
…to develop a wealth transfer plan that will enable me to maximize my family’s time, talents, and resources?
Is that really possible?
THE ANSWER TO ALL THESE THE ANSWER TO ALL THESE QUESTIONS IS AN EMPHATIC. . .QUESTIONS IS AN EMPHATIC. . .
THE ANSWER TO ALL THESE THE ANSWER TO ALL THESE QUESTIONS IS AN EMPHATIC. . .QUESTIONS IS AN EMPHATIC. . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
DO YOU MEAN TO TELL ME, IT’S POSSIBLE . . .
YES !YES !
What’s Our Role?What’s Our Role?
Direction Through Leadership
New Opportunities Through Creativity
A Plan and A Clear Path To Reach Desired Destination
Direction Through Leadership
New Opportunities Through Creativity
A Plan and A Clear Path To Reach Desired Destination
We Provide . . .We Provide . . .