Wealth Management Planning

Smart Strategies to Manage Required Minimum Distributions

In July, the nation’s oldest Baby Boomers reached age 70 ½, meaning they must start taking required minimum distributions (RMDs) from their retirement savings under IRS rules. It’s important to understand the effects of RMDs on income and taxes and to know there are strategies available to opti[...]

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The Value Of A Family Name: Reflecting on Kohler and Nicklaus

“All things wear a lustre which is the gift of the present, and a tarnish of time. Every book is a quotation; and every house is a quotation out of all forests and mines and stone-quarries; and every man is a quotation from all his ancestors.” - Ralph Waldo Emerson Golf season in Wisconsin may[...]

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From Basketball to Family Business: Are We Letting Children Fail?

In my last post I reflected on the opportunity to be a coach for my daughter’s grade school basketball team, and the insight it provided into the dynamics between parents and children in a family-owned business. The experience brought into focus my own experiences working for my father and the com[...]

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I’m Not Smarter Than A Fifth Grader: Lessons in Parent-Child Relationships

This past winter I had the wonderful opportunity to be a coach for my youngest daughter’s grade school basketball team. As the season got underway, it was clear we had a group of very eager players coming together to learn, have fun, and play the game with the intention of winning. I saw our role [...]

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Becoming Truly Innovative: A Family Value

For a firm to become truly innovative, Gary Hamel and Nancy Tennant suggest in their recent Harvard Business Review article all employees should be taught to think like innovators. In this view, explained in a previous blog, innovation is not the exclusive purview of a few creative geniuses, but st[...]

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When Should I Complete My Estate Plan? Planning Ahead is Essential to Managing Your Personal and Financial Affairs

Intellectually you may realize you need to prepare for the worst, and have a plan in place for your end, even though you don’t want to spend time thinking about it much less actually establishing an entire estate plan. If so, you’re not alone. A 2015 survey by CNBC, showed that 38% of individ[...]

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Some Insights on Family-Owned Businesses (Video)

For this blog post I thought I would mix it up and share with you a video interview with me discussing common questions I hear from family business owners. In the video I offer my perspective on some of the major concerns I’ve encountered in my experience working with family-owned businesses. Thou[...]

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Tax Season Is Prime Time For Online Scams: Steps You Can Take to Protect Your Identity and Personal Information

It’s wise to be wary of suspicious activity online at all times, but it’s especially important during tax season.  Increasingly, there is evidence that cybercriminals lurk in the virtual universe in the weeks and months leading up to the annual tax filing deadline – April 18 in 2016 – searc[...]

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Competition and Cooperation: Balancing Family and Firm Models in Family Businesses

Families and business ownership can intersect in fascinatingly complex ways. How family and business leaders think about family dynamics and corporate objectives may influence decisions more than what they think about. In short, the mental model of this crucial intersection matters. Research around [...]

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How To Give Away A One Billion Dollar Jackpot: A Generational Wealth Case Study

So let’s say you win the big jackpot. The odds are only 1 in 292,201,338, but let’s say you win one billion dollars. Maybe you keep enough to pay off the house and buy a new car, but for our case study you decide everything else goes to charity. Perhaps, you watched Born Rich, Jamie Johnson’s [...]

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