The New Estate Planning

The New Estate Planning

by John McDermott
MidAm Bank

In the old days “estate planning” simply meant making a will.New needs have sparked new thinking.

Andy Ames just did some planning:He placed his securities in a living trust.If anything happens to him, his trust will grow to include the proceeds of his life insurance.The enlarged trust fund then would be invested and managed as a unified source of income for Andy’s wife and children.

Barbara Bates desires estate planning privacy.Also, there are certain relatives for whom she is not providing, so she wants to minimize the risk of challenges from disgruntled heirs.She too has built her estate plan around a Revocable Living Trust. More…

Financial Advisor Guides: Families Between Needs for Liquidity and Capital

Financial Advisor Guides:
Families Between Needs for Liquidity and Capital

Family Business Forum News
by Jim Klaes

Francois M. De Visscher knows all about family businesses.His one family controls a multi-billion-dollar steel wire manufacturing company that has been based in Belgium for more than one hundred years.In addition, he is president of de Visscher & Company, an independent financial advisor for family-owned businesses based in Greenwich, Connecticut.

At UTEP in February, de Visscher gave some guidelines to members of the Family Business Forum about the ways to solve the capital and liquidity needs of their family businesses.

“We all, and this includes my family business too, tend to plan our individual financial needs for the future,” he said, “but we don’t plan our business’ financial needs nearly as well.Being a company’s owner as well as its manager gives you a different perspective than just a professional business manager would have.” More…