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Expert Perspective

News, research and market insights from our team of experts.

e.Insight

Current Issue | September 14, 2017

Financial Guard Rails for Today’s Family

By: Julia Weaver, J.D., Director, Family Office Services and The Trust Company of Oxford


From the "babies" that are your children to the "babies" that are your business, this issue of e.Insight addresses ways to guard your family from negative financial events and dilution of your family wealth.

In his thought provoking article, “Things to Consider as Your Children Mature… at Least Chronologically!”, Scott Simmons, JD, LL.M., Wealth Strategist, discusses the multitude of ways our children can be financially harmed before they even reach maturity, along with impactful advice on avoiding these negative events.

From improper gifting structures or insufficient liability coverage to the increasing incidence of children’s identity theft, our peaceful lives can be flipped on a dime. Scott provides proactive strategies to protect our children from financial predators.

This article also provides impactful tips for education funding and estate planning for children, as well as proactive risk management to avoid liability issues for both child and parent. If you have a “Ferris Bueller” in your family, this article is a must read.

In our article, “Impact of Pre-Transfer Estate Planning When Selling a Business - Enhancing Family Wealth”, we discuss critical pre-transfer estate planning prior to the sale of a business. This article demonstrates the benefit of introducing an estate and tax planning team to the sale process.

Of all of the grueling hours of preparing for the deal, the heartache, the headache and ultimate victory, only 60% of the fruits of this labor may actually pass to the enjoyment of your heirs (under current law). This article discusses strategies to minimize this dilution of wealth through pre-transfer estate planning.

We hope these articles provide you with practical tips on preserving not only your family's wealth but also your family's peace that comes with proper risk management and pro-active estate planning.

The above commentary represents the opinion of the authors as of 3.16.17 and is subject to change at any time due to market or economic conditions or other factors. This information is not intended to serve as tax or legal advice. As always, tax and legal counsel should be engaged before taking any action.