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Five Critical Wealth Planning Mistakes of Successful Family Businesses
Manage episode 323992941 series 2917715
محتوای ارائه شده توسط Darrick Hutchens and Ray Kramer, Darrick Hutchens, and Ray Kramer. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Darrick Hutchens and Ray Kramer, Darrick Hutchens, and Ray Kramer یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.player.fm/legal
Running a successful family business takes a tremendous amount of both working hard and working smart, as well as navigating family dynamics along the way!
On the latest installment of Modern Wealth Management, Darrick explores some of the key mistakes that too many successful family businesses make and how to best avoid them.
Given Darrick's extensive experience working with family businesses over the last two decades, he has plenty of stories to share! Sit back, relax, and enjoy another thought-provoking episode that's bound to leave you with some considerations for your own family business.
Timecodes:
0:06 - Introduction and overview on the topic of the day
1:15 - The overall need for wealth planning within a family business
6:18 - The risks that arise within family businesses
7:31 - What family businesses should be looking for in their wealth manager
11:56 - Pick out a wealth manager that isn't product-oriented
15:37 - How Darrick's clients react to his wealth planning process
17:05 - The mistake of hyper-focusing on mitigating taxes
22:35 - Don't be secretive about your wealth
29:40 - The importance of ongoing maintenance with your wealth plan
32:20 - What a family should do if their wealth plan is out of date
35:51 - You don't need to view the sale of the family business as a failure
42:04 - How you can get in touch with Darrick and his team for further discussions
44:02 - Closing remarks
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