Like a rainbow at the end of a storm, the current economic changes provide opportunities to support your weath transition
Robert (Bobby) Stover Jr
Americas Family Enterprise and Family Office Leader at EY | Top 50-Family Enterprise Influencer
Today’s interest rates are at historic lows. Asset values, estate and gift taxes are all down, and there is political uncertainty around what the new rules for those taxes will be. Amid these rapidly changing economic conditions is an opportunity to refine your wealth transition plans.
As a private or family business owner, fund manager, or private investor, it’s important to understand the impact that current conditions will have on your long-term goals and future generations. The narrow window of opportunity means that it is important to act quickly.
A few of my colleagues and I from the Ernst & Young LLP National Tax Department (NTD) and our regional thought leaders have created a new podcast series called “Wealth transition planning: strategies for now, next and beyond” to share the most prudent actions you can take. Part of EY Private Client Services (PCS), we have long worked closely with clients on succession and wealth transition planning. You’ll hear more about the leading practices you can apply.
I get a front-row seat, moderating this three-part series of conversations. In the first installment, Ernst & Young LLP NTD PCS Leader Justin Ransome, NTD PCS Principal Todd Angkatavanich and West region PCS Principal David Herzig, and NTD PCS Managing Director Sean Aylward will set the stage with an overview of why now is a crucial time to re-examine your options.
Other topics discussed include:
· The long-term benefit that future asset appreciation potential could provide to the family for future generations
· What to consider when evaluating gifting and charitable contributions
· Several short-, intermediate- and long-term options for containing risks and spotting opportunities in today’s economic environment
Our thought leaders cover the benefits and caveats of each step. In future podcasts, we will take a deeper dive with specifics on how to supercharge your wealth transition plan and stress testing to determine what you could be missing.
These sessions will be helpful for those who are refining existing wealth transition plans, or who have yet to start. This team brings a tremendous amount of wisdom to the conversation. Listen and let me know what you think, and if there are other subjects you’d like to hear about. I look forward to hearing from you.
The views expressed in this post are mine and are not necessarily those of Ernst & Young LLP or other members of the global EY organization.
Livestream Producer (Market Conversations on YT) and Cryptocurrency/Digital Asset Investor.
4 年"The long-term benefit that future asset appreciation potential could provide to the family for future generations." I know the bellow is a few years out but this kind of statement rings true now in the same way oil field discoveries had an impact on future generations. Today digital assets offer something similar to those oil fields but on a digital landscape with something that is best described as digital oil. Similar to bitcoin this digital substance is both finite and secure. But unlike the oil discovered in those fields, this digital oil was designed to be reusable and unlike bitcoin it will be able to scale to its 7.5 billion users. We've come along ways since Bitcoin and its Silk Road days and I hope everyone's due diligence is firing on all cylinders. Generational wealth is out there in this new asset class but make sure you are looking under all the rocks you come across and not just the biggest one.